Atlanticus (NASDAQ:ATLC) Sees Strong Trading Volume – What’s Next?

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) saw unusually-high trading volume on Tuesday . Approximately 147,037 shares traded hands during mid-day trading, an increase of 79% from the previous session’s volume of 82,289 shares.The stock last traded at $102.2950 and had previously closed at $99.52.

Analyst Upgrades and Downgrades

ATLC has been the topic of several recent research reports. Citizens Jmp increased their target price on shares of Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Texas Capital raised shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Trading Up 3.5%

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $1.56 billion, a P/E ratio of 15.35 and a beta of 2.14. The company has a 50-day moving average price of $81.66 and a 200 day moving average price of $66.58.

Atlanticus (NASDAQ:ATLC) last issued 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 return on equity of 23.43% and a net margin of 5.86%.The company had revenue of $679.59 million for the quarter, compared to the consensus estimate of $749.36 million. On average, research analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Several hedge funds have recently modified their holdings of ATLC. Royal Bank of Canada grew its position in shares of Atlanticus by 274.6% in the 1st quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock worth $1,193,000 after buying an additional 17,091 shares during the last quarter. AQR Capital Management LLC purchased a new stake in Atlanticus during the first quarter valued at approximately $1,083,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus during the first quarter valued at approximately $71,000. Empowered Funds LLC boosted its stake in 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 acquiring an additional 12,308 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 12,751 shares in the last quarter. 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.