Atlanticus (NASDAQ:ATLC) Sets New 52-Week High After Earnings Beat

Key Points

• New 52-week high after earnings beat: Atlanticus shares jumped to as high as $80.75 after reporting EPS of $2.23 vs. the $1.69 consensus (a $0.54 beat), although quarterly revenue of $679.6M missed estimates of $749.4M.
• Analysts are raising targets and ratings — including B. Riley to $98 and Citizens JMP to $102 — and MarketBeat shows a consensus rating of Moderate Buy with an average price target of $91.25.
• Institutional buying accelerated (Wellington +54.7%, HB Wealth +1,761.6%, among others) with institutions owning 14.15% of shares; Atlanticus has a market cap of about $1.17B and a P/E of 13.14.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $80.75 and last traded at $78.7160, with a volume of 73241 shares trading hands. The stock had previously closed at $77.82.

The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.54. Atlanticus had a net margin of 6.21% and a return on equity of 22.39%. The business had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million.

Analyst Ratings Changes

ATLC has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Atlanticus from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 25th. Zacks Research upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, April 20th. Weiss Ratings upgraded shares of Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. B. Riley Financial lifted their target price on shares of Atlanticus from $90.00 to $98.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Finally, Citizens Jmp lifted their target price on shares of Atlanticus from $100.00 to $102.00 and gave the stock a "market outperform" rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.25.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATLC. Wellington Management Group LLP increased its holdings in shares of Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider's stock worth $47,152,000 after purchasing an additional 249,100 shares during the period. HB Wealth Management LLC increased its holdings in shares of Atlanticus by 1,761.6% during the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider's stock worth $6,233,000 after purchasing an additional 112,407 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of Atlanticus by 133.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock worth $5,105,000 after purchasing an additional 53,312 shares during the period. UBS Group AG increased its holdings in shares of Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock worth $2,516,000 after purchasing an additional 28,907 shares during the period. Finally, AQR Capital Management LLC bought a new position in shares of Atlanticus during the 1st quarter worth about $1,083,000. Institutional investors own 14.15% of the company's stock.

Atlanticus Stock Performance

The firm's fifty day moving average price is $60.91 and its 200-day moving average price is $59.56. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a market cap of $1.17 billion, a P/E ratio of 13.14 and a beta of 2.14.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.

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