Weiss Ratings Reiterates "Hold (C)" Rating for Atlanticus (NASDAQ:ATLC)

Key Points

• Weiss Ratings has reissued a "hold (C)" rating for Atlanticus (NASDAQ:ATLC) in their latest research report, while other analysts have given the stock varying ratings including multiple "buy" ratings with increased target prices.
• Atlanticus stock rose 2.3% during trading, reaching $55.37, with a market cap of $837.19 million and a price-to-earnings ratio of 9.73.
• The company reported earnings of $1.51 per share for the last quarter, exceeding analysts' expectations, and has a projected average earnings per share of 4.49 for the current year.

Atlanticus (NASDAQ:ATLC - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the stock. Citigroup reissued an "outperform" rating on shares of Atlanticus in a research note on Thursday, September 18th. B. Riley upped their target price on shares of Atlanticus from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, September 15th. JMP Securities upped their price objective on shares of Atlanticus from $78.00 to $95.00 and gave the stock a "market outperform" rating in a research note on Thursday, September 18th. BTIG Research reiterated a "buy" rating and issued a $84.00 target price on shares of Atlanticus in a report on Thursday, September 11th. Finally, Wall Street Zen raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 26th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.60.

Atlanticus Stock Up 2.3%

Atlanticus stock traded up $1.23 during trading on Wednesday, reaching $55.37. 76,936 shares of the company's stock were exchanged, compared to its average volume of 60,551. The company's 50-day moving average is $62.62 and its two-hundred day moving average is $55.90. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.38. Atlanticus has a 52-week low of $34.38 and a 52-week high of $78.91. The firm has a market cap of $837.19 million, a price-to-earnings ratio of 9.73 and a beta of 2.15.

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

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of Atlanticus 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 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 SEC, which is accessible through the SEC website. 51.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ATLC. New York State Teachers Retirement System increased its stake in Atlanticus by 151.5% in the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider's stock valued at $28,000 after purchasing an additional 303 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of Atlanticus by 19.3% during the 1st quarter. Quantbot Technologies LP now owns 3,152 shares of the credit services provider's stock worth $161,000 after acquiring an additional 509 shares during the period. Jump Financial LLC grew its holdings in shares of Atlanticus by 6.1% during the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider's stock worth $512,000 after purchasing an additional 537 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Atlanticus by 3.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,751 shares of the credit services provider's stock worth $806,000 after acquiring an additional 561 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Atlanticus by 1.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 82,629 shares of the credit services provider's stock valued at $4,524,000 after purchasing an additional 982 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company's stock.

Atlanticus Company 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.

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