JMP Securities Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Key Points

• JMP Securities has raised its price objective for Atlanticus' stock from $75.00 to $78.00, indicating a potential upside of 31.05% from its current price.
• Atlanticus recently reported a quarterly earnings per share (EPS) of $1.51, surpassing analysts' consensus estimates of $1.30 and achieving a revenue of $393.82 million for the quarter.
• Currently, Atlanticus holds a consensus rating of "Buy" with varying ratings from analysts, including three "buy" ratings and two "strong buy" ratings.

Atlanticus (NASDAQ:ATLC - Free Report) had its price target increased by JMP Securities from $75.00 to $78.00 in a research report sent to investors on Tuesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the credit services provider's stock.

ATLC has been the topic of several other research reports. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 price objective (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $63.20.

Atlanticus Stock Down 1.3%

Shares of NASDAQ:ATLC traded down $0.80 during trading on Tuesday, reaching $61.35. 35,102 shares of the company traded hands, compared to its average volume of 46,162. The firm has a fifty day simple moving average of $53.50 and a 200 day simple moving average of $52.97. The firm has a market cap of $927.61 million, a P/E ratio of 10.78 and a beta of 1.93. Atlanticus has a 1-year low of $30.00 and a 1-year high of $64.70. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.21. The business had revenue of $393.82 million during the quarter, compared to analyst estimates of $373.87 million. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%. Analysts anticipate that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the sale, the director directly owned 61,092 shares in the company, valued at approximately $3,811,529.88. The trade was a 3.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 50.40% of the company's stock.

Institutional Trading of Atlanticus

Several institutional investors have recently made changes to their positions in the business. Man Group plc acquired a new stake in shares of Atlanticus during the 2nd quarter valued at about $701,000. BNP Paribas Financial Markets boosted its position in Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider's stock valued at $95,000 after buying an additional 1,336 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in Atlanticus by 133.5% in the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock valued at $5,105,000 after buying an additional 53,312 shares in the last quarter. Jane Street Group LLC boosted its position in Atlanticus by 205.5% in the second quarter. Jane Street Group LLC now owns 14,683 shares of the credit services provider's stock valued at $804,000 after buying an additional 9,876 shares in the last quarter. Finally, Jump Financial LLC boosted its position in Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider's stock valued at $512,000 after buying an additional 537 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.