Atlanticus (NASDAQ:ATLC) Stock Rating Lowered by Wall Street Zen

Atlanticus (NASDAQ:ATLC) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday.

ATLC has been the subject of a number of other research reports. Capital One Financial set a $144.00 target price on shares of Atlanticus in a research report on Monday, July 13th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. HSBC set a $144.00 price objective on shares of Atlanticus in a research note on Monday, July 13th. Zacks Research cut Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, BTIG Research lifted their target price on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $100.01 on Friday. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average price of $98.04 and a two-hundred day moving average price of $75.36. The company has a market cap of $1.52 billion, a P/E ratio of 13.01 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Atlanticus had a net margin of 5.80% and a return on equity of 26.06%. The company had revenue of $744.31 million for the quarter, compared to the consensus estimate of $716.35 million. As a group, analysts expect that Atlanticus will post 9.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the sale, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of Atlanticus stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total value of $1,634,379.76. Following the transaction, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 75,000 shares of company stock worth $7,868,627. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in Atlanticus by 274.6% in the 1st quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock valued at $1,193,000 after acquiring an additional 17,091 shares during the period. AQR Capital Management LLC bought a new stake in shares of Atlanticus during the first quarter worth approximately $1,083,000. Jones Financial Companies Lllp bought a new stake in shares of Atlanticus during the first quarter worth approximately $71,000. Empowered Funds LLC grew its position in shares of Atlanticus by 47.3% in the first quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock valued at $1,960,000 after purchasing an additional 12,308 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Atlanticus by 241.1% in the second quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 12,751 shares during the last quarter. Institutional investors 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.