Atlanticus (NASDAQ:ATLC) Hits New 12-Month High - Here's Why

Key Points

• Atlanticus Holdings Corporation (NASDAQ:ATLC) reached a new 52-week high of $67.50, closing at $66.25, marking significant interest from investors with a trading volume of 33,874 shares.
• Analyst upgrades have positioned Atlanticus favorably, with Keefe, Bruyette & Woods raising their price target to $60.00 and JMP Securities to $78.00, leading to an average rating of "Buy" and a price target of $63.20.
• The company recently announced a quarterly dividend of $0.4766 per share, equating to an annualized yield of 2.9%, set to be paid on September 15th to shareholders of record as of September 1st.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $67.50 and last traded at $66.25, with a volume of 33874 shares trading hands. The stock had previously closed at $66.54.

Analyst Ratings Changes

ATLC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JMP Securities boosted their price objective on Atlanticus from $75.00 to $78.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 12th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $63.20.

Atlanticus Trading Down 2.3%

The firm has a 50-day simple moving average of $56.47 and a 200-day simple moving average of $53.38. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The stock has a market cap of $985.67 million, a PE ratio of 11.46 and a beta of 2.00.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.21. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%. The firm had revenue of $393.82 million for the quarter, compared to analysts' expectations of $373.87 million. Equities analysts forecast that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

Atlanticus Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be paid a dividend of $0.4766 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.9%.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the sale, the director owned 61,092 shares of the company's stock, valued at approximately $3,811,529.88. The trade was a 3.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 51.80% of the company's stock.

Institutional Investors Weigh In On Atlanticus

Large investors have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in shares of Atlanticus by 151.5% in the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider's stock worth $28,000 after buying an additional 303 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Atlanticus by 6.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,413 shares of the credit services provider's stock valued at $358,000 after purchasing an additional 402 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Atlanticus by 229.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock valued at $41,000 after buying an additional 507 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Atlanticus by 19.3% in the first quarter. Quantbot Technologies LP now owns 3,152 shares of the credit services provider's stock worth $161,000 after purchasing an additional 509 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider's stock worth $512,000 after purchasing an additional 537 shares in the last quarter. Institutional investors own 14.15% of the company's stock.

About Atlanticus

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.