Atlanticus (NASDAQ:ATLC) Rating Increased to Hold at Texas Capital

Texas Capital upgraded shares of Atlanticus (NASDAQ:ATLC) to a hold rating in a report released on Wednesday morning,Zacks.com reports.

A number of other brokerages have also issued reports on ATLC. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Weiss Ratings lowered shares of Atlanticus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Finally, Citizens Jmp boosted their target price on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Trading Up 2.9%

ATLC stock opened at $91.18 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. Atlanticus has a twelve month low of $45.74 and a twelve month high of $93.21. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.61 and a beta of 2.14. The firm’s fifty day simple moving average is $76.01 and its two-hundred day simple moving average is $64.64.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The business had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. As a group, analysts anticipate that Atlanticus will post 9.48 earnings per share for the current year.

Institutional Trading of Atlanticus

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Atlanticus by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after acquiring an additional 249,100 shares during the period. Vanguard Group Inc. lifted its stake in Atlanticus by 6.7% in the third quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock worth $17,912,000 after acquiring an additional 19,159 shares during the period. HB Wealth Management LLC lifted its stake in Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after acquiring an additional 112,407 shares during the period. State Street Corp lifted its stake in Atlanticus by 9.8% in the fourth quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock worth $7,838,000 after acquiring an additional 10,409 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in Atlanticus by 0.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock worth $7,508,000 after acquiring an additional 805 shares during the period. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.