Atlanticus (NASDAQ:ATLC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Atlanticus from a "buy" to a "strong-buy" rating in the latest report.
• Earnings beat: Atlanticus posted $1.75 EPS versus $1.65 expected and reported revenue of $1.47 billion (consensus revenue ~$691.8M), with analysts forecasting FY EPS of 4.49 and an average price target of $91.25.
• Shares trade at $63.39 (52-week range $45.74–$78.91) with a market cap of about $946M, a P/E of 10.64, and insiders owning roughly 50.4% of the stock.

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report released on Saturday.

ATLC has been the subject of several other reports. B. Riley Financial boosted their target price on Atlanticus from $90.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Citizens Jmp boosted their target price on Atlanticus from $100.00 to $102.00 and gave the stock a "market outperform" rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Atlanticus in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's 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.

Atlanticus Price Performance

Atlanticus stock opened at $63.39 on Friday. Atlanticus has a 52 week low of $45.74 and a 52 week high of $78.91. The business has a 50-day simple moving average of $54.47 and a 200 day simple moving average of $57.82. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.16. The stock has a market cap of $945.78 million, a price-to-earnings ratio of 10.64 and a beta of 1.88.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its earnings results on Thursday, March 12th. The credit services provider reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%.The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $691.81 million. On average, research analysts forecast that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Deal W. Hudson sold 1,675 shares of the company's stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $59.72, for a total value of $100,031.00. Following the completion of the transaction, the director directly owned 60,467 shares in the company, valued at approximately $3,611,089.24. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 50.40% of the company's stock.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Atlanticus by 54.7% in 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 in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Atlanticus by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider's stock worth $17,912,000 after purchasing an additional 19,159 shares in the last quarter. State Street Corp boosted its holdings in shares of Atlanticus by 9.8% in the 4th quarter. State Street Corp now owns 117,071 shares of the credit services provider's stock worth $7,838,000 after purchasing an additional 10,409 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Atlanticus by 0.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider's stock worth $7,508,000 after purchasing an additional 805 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Atlanticus by 13.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 93,529 shares of the credit services provider's stock worth $5,479,000 after purchasing an additional 10,900 shares in the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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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