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

JMP Securities reissued their market outperform rating on shares of Atlanticus (NASDAQ:ATLC - Free Report) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $39.00 target price on the credit services provider's stock.

Separately, StockNews.com downgraded Atlanticus from a strong-buy rating to a buy rating in a research report on Wednesday, April 10th.

Atlanticus Trading Down 2.1 %

Shares of NASDAQ ATLC traded down $0.56 during trading hours on Wednesday, hitting $25.55. 9,146 shares of the company traded hands, compared to its average volume of 11,925. The stock has a market capitalization of $373.36 million, a price-to-earnings ratio of 6.04 and a beta of 1.84. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.37. The company's 50 day moving average price is $30.60 and its 200 day moving average price is $31.95. Atlanticus has a 12 month low of $25.50 and a 12 month high of $43.70.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. The firm had revenue of $309.09 million for the quarter, compared to the consensus estimate of $304.68 million. Atlanticus had a return on equity of 27.93% and a net margin of 8.90%. On average, equities research analysts anticipate that Atlanticus will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total value of $61,000.00. Following the transaction, the director now owns 69,855 shares of the company's stock, valued at approximately $2,130,577.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction on Tuesday, April 9th. The stock was acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, the insider now owns 263,432 shares of the company's stock, valued at $7,431,416.72. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deal W. Hudson sold 2,000 shares of the company's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total value of $61,000.00. Following the completion of the sale, the director now owns 69,855 shares of the company's stock, valued at $2,130,577.50. The disclosure for this sale can be found here. 52.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider's stock worth $23,290,000 after buying an additional 7,234 shares during the period. BlackRock Inc. lifted its holdings in shares of Atlanticus by 2.2% in the 1st quarter. BlackRock Inc. now owns 359,187 shares of the credit services provider's stock worth $18,602,000 after buying an additional 7,655 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Atlanticus by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 256,236 shares of the credit services provider's stock worth $9,909,000 after buying an additional 1,295 shares during the period. State Street Corp lifted its holdings in shares of Atlanticus by 0.8% in the 1st quarter. State Street Corp now owns 97,414 shares of the credit services provider's stock worth $2,643,000 after buying an additional 742 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Atlanticus by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 97,332 shares of the credit services provider's stock worth $4,089,000 after buying an additional 1,935 shares during the period. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.