Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC) hit a new 52-week high on Thursday . The company traded as high as $99.55 and last traded at $95.77, with a volume of 142017 shares. The stock had previously closed at $96.24.

Analyst Ratings Changes

ATLC has been the topic of several recent research reports. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Citizens Jmp boosted their price target on shares of Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. William Blair set a $100.00 price target on shares of Atlanticus in a research report on Wednesday, June 10th. Finally, Texas Capital raised shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.25.

Atlanticus Stock Down 0.5%

The stock has a market capitalization of $1.45 billion, a P/E ratio of 14.29 and a beta of 2.14. The firm’s 50-day simple moving average is $79.27 and its 200 day simple moving average is $65.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.54. The company had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. As a group, research analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after purchasing an additional 249,100 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Atlanticus by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock worth $17,912,000 after purchasing an additional 19,159 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Atlanticus by 1,761.6% during the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares during the last quarter. State Street Corp increased its stake in shares of Atlanticus by 9.8% during the 4th quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock worth $7,838,000 after purchasing an additional 10,409 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Atlanticus by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock worth $7,508,000 after purchasing an additional 805 shares during the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.