JMP Securities Reiterates "Market Outperform" Rating for Atlanticus (NASDAQ:ATLC)

Key Points

• JMP Securities has reiterated a "Market Outperform" rating for Atlanticus (NASDAQ:ATLC) with a target price of $78.00, indicating a potential upside of 11.23% from the current stock price.
• Atlanticus recently reported earnings of $1.51 EPS, surpassing estimates, with revenue reaching $393.82 million compared to predictions of $373.87 million.
• Insider trading activity includes a director selling 2,000 shares at an average price of $62.39, reflecting a 3.17% decrease in their ownership of company stock.

Atlanticus (NASDAQ:ATLC - Get Free Report)'s stock had its "market outperform" rating reiterated by research analysts at JMP Securities in a research report issued on Friday,Benzinga reports. They currently have a $78.00 target price on the credit services provider's stock. JMP Securities' price target points to a potential upside of 11.23% from the stock's current price.

A number of other research analysts have also weighed in on the company. Wall Street Zen upgraded Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. BTIG Research restated a "buy" rating and set a $84.00 price target on shares of Atlanticus in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $69.20.

Atlanticus Stock Performance

Shares of NASDAQ ATLC opened at $70.13 on Friday. Atlanticus has a 1 year low of $30.82 and a 1 year high of $69.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.38. The company's fifty day moving average price is $58.65 and its 200 day moving average price is $53.92. The company has a market capitalization of $1.06 billion, a PE ratio of 11.92 and a beta of 2.00.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.21. The business had revenue of $393.82 million for 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%. On average, research analysts predict that Atlanticus will post 4.49 earnings per share for the current year.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the completion of the transaction, the director owned 61,092 shares of the company's stock, valued at approximately $3,811,529.88. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 50.40% of the company's stock.

Hedge Funds Weigh In On Atlanticus

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Atlanticus by 198.9% in the 1st quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider's stock valued at $18,684,000 after acquiring an additional 243,053 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Atlanticus by 2.3% during the second quarter. Geode Capital Management LLC now owns 126,841 shares of the credit services provider's stock worth $6,945,000 after buying an additional 2,812 shares during the period. American Century Companies Inc. raised its holdings in Atlanticus by 25.8% in the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider's stock valued at $6,574,000 after acquiring an additional 24,595 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings 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 valued at $5,105,000 after purchasing an additional 53,312 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Atlanticus by 1.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 82,629 shares of the credit services provider's stock worth $4,524,000 after purchasing an additional 982 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company's stock.

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.

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