Atlanticus (NASDAQ:ATLC) Reaches New 52-Week High - Should You Buy?

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) hit a new 52-week high during trading on Thursday . The stock traded as high as $67.50 and last traded at $66.25, with a volume of 33874 shares. The stock had previously closed at $66.54.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price target (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. JMP Securities lifted their target price on shares of Atlanticus from $75.00 to $78.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Atlanticus presently has an average rating of "Buy" and a consensus target price of $63.20.

Atlanticus Stock Performance

The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $56.15 and a 200 day moving average price of $53.34. The firm has a market cap of $1.01 billion, a PE ratio of 11.72 and a beta of 2.00.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The credit services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.30 by $0.21. The business had revenue of $393.82 million for the quarter, compared to analyst estimates of $373.87 million. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. As a group, equities research analysts expect that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Atlanticus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders 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 yield of 2.9%.

Insider Activity at Atlanticus

In other news, Director Deal W. Hudson sold 2,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total transaction of $124,780.00. Following the completion of the transaction, the director directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 50.40% of the company's stock.

Hedge Funds Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATLC. Wellington Management Group LLP boosted its holdings in Atlanticus by 198.9% in the first quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider's stock valued at $18,684,000 after purchasing an additional 243,053 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Atlanticus by 468.2% in the second quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider's stock valued at $3,794,000 after acquiring an additional 57,103 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Atlanticus by 133.5% in the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock valued at $5,105,000 after acquiring an additional 53,312 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Atlanticus in the first quarter valued at approximately $2,588,000. Finally, American Century Companies Inc. boosted its holdings in shares of Atlanticus by 82.4% in the first quarter. American Century Companies Inc. now owns 95,476 shares of the credit services provider's stock valued at $4,884,000 after acquiring an additional 43,142 shares during the period. 14.15% of the stock is owned by institutional investors and hedge funds.

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.