Atlanticus (NASDAQ:ATLC) Sees Large Volume Increase - Here's Why

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) saw strong trading volume on Thursday . 133,614 shares traded hands during mid-day trading, an increase of 207% from the previous session's volume of 43,477 shares.The stock last traded at $58.00 and had previously closed at $56.98.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 target price (up from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. Wall Street Zen cut Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Atlanticus presently has a consensus rating of "Buy" and an average price target of $62.60.

Atlanticus Stock Performance

The company has a 50-day simple moving average of $52.57 and a two-hundred day simple moving average of $53.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $892.13 million, a P/E ratio of 11.38 and a beta of 1.83.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its earnings results on Thursday, May 8th. The credit services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.16. Atlanticus had a net margin of 8.54% and a return on equity of 24.51%. The firm had revenue of $344.87 million during the quarter, compared to analyst estimates of $347.24 million. As a group, equities analysts forecast that Atlanticus Holdings Corporation will post 4.49 EPS for the current year.

Hedge Funds Weigh In On Atlanticus

Hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in shares of Atlanticus in the 1st quarter worth $2,588,000. Millennium Management LLC purchased a new stake in shares of Atlanticus in the 4th quarter worth $987,000. GAMMA Investing LLC increased its stake in shares of Atlanticus by 28,426.9% in the 1st quarter. GAMMA Investing LLC now owns 7,417 shares of the credit services provider's stock worth $379,000 after purchasing an additional 7,391 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atlanticus in the 4th quarter worth $3,828,000. Finally, Horizon Investment Services LLC purchased a new stake in shares of Atlanticus in the 4th quarter worth $617,000. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

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