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

Key Points

• Wall Street Zen upgraded Atlanticus to “strong buy” from “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $126.
• Atlanticus exceeded quarterly expectations, reporting $2.50 EPS versus $2.42 expected and revenue of $744.31 million compared with the $716.35 million consensus estimate.
• The stock opened at $102.58, near its 52-week high of $114.34, as hedge funds increased positions; however, insiders have sold 75,000 shares worth approximately $7.87 million over the past 90 days.

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Sunday.

Several other equities analysts have also commented on ATLC. Texas Capital upgraded Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Jefferies Financial Group boosted their price objective on shares of Atlanticus from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. William Blair set a $100.00 target price on shares of Atlanticus in a report on Wednesday, June 10th. Finally, HSBC set a $144.00 price target on shares of Atlanticus in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.00.

Atlanticus Price Performance

ATLC stock opened at $102.58 on Friday. The firm has a 50 day simple moving average of $99.60 and a two-hundred day simple moving average of $76.59. The stock has a market cap of $1.56 billion, a PE ratio of 13.34 and a beta of 2.11. Atlanticus has a one year low of $47.50 and a one year high of $114.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.24.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. The company had revenue of $744.31 million during the quarter, compared to the consensus estimate of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, analysts predict that Atlanticus will post 9.48 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Frank J. Hanna III sold 15,676 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total value of $1,634,379.76. Following the sale, the insider directly owned 259,392 shares of the company's stock, valued at $27,044,209.92. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William Mccamey sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the transaction, the chief financial officer owned 127,410 shares in the company, valued at approximately $13,124,504.10. This represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,000 shares of company stock worth $7,868,627 over the last ninety days. 51.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Atlanticus during the second quarter valued at approximately $43,535,000. Wellington Management Group LLP raised its holdings in 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. HB Wealth Management LLC raised its holdings in Atlanticus by 1,761.6% in 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 in the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Atlanticus by 133.5% in 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. Finally, UBS Group AG boosted its stake 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 valued at $2,516,000 after purchasing an additional 28,907 shares in the last quarter. 14.15% of the stock is 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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