Janney Montgomery Scott LLC Makes New $2.59 Million Investment in Atlanticus Holdings Corporation (NASDAQ:ATLC)

Janney Montgomery Scott LLC bought a new position in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,606 shares of the credit services provider's stock, valued at approximately $2,588,000. Janney Montgomery Scott LLC owned 0.33% of Atlanticus at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its holdings in shares of Atlanticus by 229.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock worth $41,000 after acquiring an additional 507 shares during the period. Globeflex Capital L P acquired a new position in shares of Atlanticus in the 4th quarter valued at $119,000. State of Tennessee Department of Treasury purchased a new stake in shares of Atlanticus during the 4th quarter valued at $143,000. Quantbot Technologies LP acquired a new stake in shares of Atlanticus during the 4th quarter worth $147,000. Finally, Two Sigma Advisers LP acquired a new position in Atlanticus in the fourth quarter valued at $201,000. 14.15% of the stock is owned by institutional investors and hedge funds.

Atlanticus Stock Up 2.8%

Shares of ATLC stock traded up $1.48 during trading hours on Friday, reaching $53.56. The company had a trading volume of 66,093 shares, compared to its average volume of 41,932. The company has a market capitalization of $810.36 million, a P/E ratio of 10.36 and a beta of 1.81. The stock's fifty day simple moving average is $52.13 and its 200 day simple moving average is $53.78. Atlanticus Holdings Corporation has a twelve month low of $25.44 and a twelve month high of $64.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.42 and a current ratio of 1.42.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATLC. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price target (up from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Atlanticus from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $62.60.

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.