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

Janney Montgomery Scott LLC acquired a new stake in 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 firm acquired 50,606 shares of the credit services provider's stock, valued at approximately $2,588,000. Janney Montgomery Scott LLC owned approximately 0.33% of Atlanticus at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of Atlanticus by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 125,558 shares of the credit services provider's stock valued at $7,004,000 after acquiring an additional 20,800 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Atlanticus by 159.2% in the fourth quarter. Wellington Management Group LLP now owns 122,225 shares of the credit services provider's stock valued at $6,818,000 after acquiring an additional 75,068 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlanticus in the fourth quarter valued at $3,828,000. American Century Companies Inc. raised its stake in shares of Atlanticus by 60.7% in the fourth quarter. American Century Companies Inc. now owns 52,334 shares of the credit services provider's stock valued at $2,919,000 after acquiring an additional 19,776 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Atlanticus by 48.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 27,614 shares of the credit services provider's stock valued at $1,540,000 after acquiring an additional 9,026 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Stock Up 2.8%

Atlanticus stock traded up $1.48 during midday trading on Friday, reaching $53.56. The company's stock had a trading volume of 66,093 shares, compared to its average volume of 41,531. Atlanticus Holdings Corporation has a fifty-two week low of $25.44 and a fifty-two week high of $64.70. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. The company has a market cap of $810.36 million, a P/E ratio of 10.36 and a beta of 1.81. The business has a 50-day simple moving average of $52.16 and a 200-day simple moving average of $53.63.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The credit services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.16. Atlanticus had a return on equity of 24.51% and a net margin of 8.54%. The company had revenue of $344.87 million for the quarter, compared to analyst estimates of $347.24 million. On average, research analysts expect that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ATLC shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 price target (up from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. Wall Street Zen cut Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $62.60.

Atlanticus Profile

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.