Atlanticus Holdings Corporation (NASDAQ:ATLC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Atlanticus has a “Moderate Buy” consensus rating from eight analysts: five buys, one strong buy and two holds. The average 12-month price target is $129, above the reported opening price of $92.50.
• The company beat quarterly expectations, reporting $2.50 in earnings per share versus the $2.42 consensus estimate, while revenue of $744.32 million exceeded estimates of $716.35 million.
• Insiders sold 55,000 shares worth approximately $5.68 million over the past 90 days, although insiders still own 51% of the company; institutional investors own 14.15%.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $129.00.

A number of research analysts have commented on ATLC shares. Capital One Financial set a $144.00 price target on Atlanticus in a research report on Monday, July 13th. B. Riley Financial reiterated a "buy" rating on shares of Atlanticus in a research report on Thursday, September 3rd. William Blair set a $100.00 target price on Atlanticus in a research note on Wednesday, June 10th. Texas Capital upgraded Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Finally, Jefferies Financial Group upped their target price on Atlanticus from $100.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, July 8th.

Atlanticus Price Performance

ATLC stock opened at $92.50 on Friday. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 12.03 and a beta of 2.02. The firm's 50-day moving average price is $96.95 and its two-hundred day moving average price is $84.93. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. Atlanticus has a 12-month low of $47.50 and a 12-month high of $114.34.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. The company had revenue of $744.32 million during the quarter, compared to analyst estimates of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. As a group, equities analysts predict that Atlanticus will post 9.73 earnings per share for the current year.

Insider Activity at Atlanticus

In other Atlanticus news, CEO Jeffrey Howard sold 10,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief executive officer directly owned 663,265 shares of the company's stock, valued at approximately $68,322,927.65. The trade was a 1.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mitchell Saunders sold 10,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the completion of the transaction, the chief accounting officer owned 46,273 shares of the company's stock, valued at $4,729,100.60. This trade represents a 17.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,000 shares of company stock valued at $5,679,627 in the last 90 days. 51.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new stake in Atlanticus in the second quarter worth about $33,000. Inspire Investing LLC purchased a new position in shares of Atlanticus during the 1st quarter worth approximately $87,000. Walleye Capital LLC purchased a new position in shares of Atlanticus during the 2nd quarter worth approximately $208,000. Jupiter Topco LLC bought a new position in shares of Atlanticus in the 2nd quarter worth approximately $255,000. Finally, Hsbc Holdings PLC bought a new position in shares of Atlanticus in the 2nd quarter worth approximately $269,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology company that provides credit and related financial services to consumers, particularly those who may have limited access to traditional lending products. The company works with merchants, financial institutions and other business partners to offer financing options at the point of sale and through direct-to-consumer channels.

Its consumer finance activities include retail credit programs, private-label and general-purpose credit cards, personal lending products and other installment financing.

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