Brokerages Set Atlanticus Holdings Corporation (NASDAQ:ATLC) Target Price at $126.00

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) have earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $129.00.

ATLC has been the subject of a number of recent research reports. William Blair set a $100.00 target price on shares of Atlanticus in a research report on Wednesday, June 10th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. BTIG Research upped their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. B. Riley Financial increased their price objective on shares of Atlanticus from $111.00 to $119.00 and gave the company a “buy” rating in a report on Thursday. Finally, B Riley reissued a “buy” rating on shares of Atlanticus in a research note on Thursday.

Atlanticus Price Performance

Shares of ATLC opened at $93.13 on Wednesday. The stock has a 50 day moving average price of $98.76 and a 200 day moving average price of $81.06. Atlanticus has a one year low of $47.50 and a one year high of $114.34. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.11 and a beta of 2.02.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The company had revenue of $744.31 million for the quarter, compared to analyst estimates of $716.35 million. Equities research analysts forecast that Atlanticus will post 9.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, major shareholder Frank J. Hanna III sold 15,676 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the transaction, the insider owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Mitchell Saunders sold 10,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $102.20, for a total value of $1,022,000.00. Following the completion of the sale, the chief accounting officer owned 46,273 shares of the company’s stock, valued at approximately $4,729,100.60. The trade was a 17.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 75,000 shares of company stock worth $7,868,627 in the last three months. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Atlanticus in the second quarter valued at about $43,535,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Atlanticus during the second quarter valued at about $9,161,293. Denali Advisors LLC acquired a new stake in shares of Atlanticus during the second quarter valued at about $2,032,000. Susquehanna International Group LLP purchased a new stake in shares of Atlanticus in the 2nd quarter valued at approximately $1,500,000. Finally, HB Wealth Management LLC raised its stake in shares of 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 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.