StockNews.com Downgrades Atlanticus (NASDAQ:ATLC) to Buy

Atlanticus (NASDAQ:ATLC) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, JMP Securities reiterated a “market outperform” rating and issued a $37.00 price target on shares of Atlanticus in a report on Tuesday, March 5th.

Atlanticus Stock Down 0.8 %

Shares of Atlanticus stock opened at $27.45 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market cap of $401.04 million, a price-to-earnings ratio of 6.49 and a beta of 1.84. The firm’s 50-day moving average is $31.14 and its two-hundred day moving average is $32.05. Atlanticus has a 1 year low of $26.26 and a 1 year high of $43.70.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. The firm had revenue of $309.09 million during the quarter, compared to analysts’ expectations of $304.68 million. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. As a group, research analysts expect that Atlanticus will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Atlanticus

Several hedge funds have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in Atlanticus by 184.4% during the fourth quarter. Barclays PLC now owns 1,132 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 734 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Atlanticus during the 1st quarter worth about $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Atlanticus by 499.5% during the third quarter. Tower Research Capital LLC TRC now owns 1,157 shares of the credit services provider’s stock worth $30,000 after buying an additional 964 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Atlanticus in the third quarter valued at about $30,000. Finally, Quantbot Technologies LP purchased a new stake in Atlanticus during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors 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.