StockNews.com Upgrades Atlanticus (NASDAQ:ATLC) to "Strong-Buy"

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Tuesday.

Separately, JMP Securities reaffirmed a "market outperform" rating and issued a $39.00 target price on shares of Atlanticus in a research report on Wednesday, April 17th.

Atlanticus Stock Up 3.5 %

Shares of NASDAQ ATLC traded up $0.81 on Tuesday, reaching $24.26. 15,086 shares of the company's stock traded hands, compared to its average volume of 12,461. Atlanticus has a 12 month low of $23.20 and a 12 month high of $43.70. The business's 50 day simple moving average is $29.97 and its two-hundred day simple moving average is $31.82. The company has a market cap of $359.05 million, a price-to-earnings ratio of 5.74 and a beta of 1.84. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.37.

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

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of the firm's stock in a transaction on Tuesday, April 9th. The stock was bought at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the purchase, the insider now owns 263,432 shares in the company, valued at $7,431,416.72. The disclosure for this purchase can be found here. Corporate insiders own 52.40% of the company's stock.

Institutional Trading of Atlanticus

Large investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in Atlanticus by 23.8% during the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider's stock valued at $68,000 after purchasing an additional 435 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Atlanticus during the 3rd quarter valued at about $30,000. Simplicity Solutions LLC grew its holdings in Atlanticus by 10.5% during the 3rd quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider's stock valued at $326,000 after purchasing an additional 1,024 shares during the last quarter. Denali Advisors LLC grew its holdings in Atlanticus by 4.2% during the 3rd quarter. Denali Advisors LLC now owns 28,055 shares of the credit services provider's stock valued at $850,000 after purchasing an additional 1,122 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Atlanticus by 2.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 50,325 shares of the credit services provider's stock valued at $1,525,000 after purchasing an additional 1,304 shares during the last quarter. 14.15% of the stock is currently owned by 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.

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