Atlanticus (NASDAQ:ATLC) Sets New 12-Month High – Here’s What Happened

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $104.50 and last traded at $104.3850, with a volume of 140551 shares changing hands. The stock had previously closed at $101.36.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Texas Capital upgraded shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. William Blair set a $100.00 price objective on shares of Atlanticus in a research report on Wednesday, June 10th. Finally, Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Stock Up 4.6%

The stock has a 50-day moving average price of $82.42 and a 200-day moving average price of $66.88. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $1.60 billion, a P/E ratio of 15.59 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $749.36 million. On average, research analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Institutional Trading of Atlanticus

Several hedge funds have recently bought and sold shares of ATLC. Wellington Management Group LLP grew its holdings in shares of Atlanticus by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after buying an additional 249,100 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Atlanticus by 6.7% in the 3rd 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 last quarter. HB Wealth Management LLC lifted its position in Atlanticus by 1,761.6% in the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after acquiring an additional 112,407 shares in the last quarter. State Street Corp lifted its position in Atlanticus by 9.8% in the 4th quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock valued at $7,838,000 after acquiring an additional 10,409 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in Atlanticus by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock valued at $7,508,000 after purchasing an additional 805 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.