Atlanticus (NASDAQ:ATLC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

Separately, JMP Securities reissued a market outperform rating and set a $39.00 target price on shares of Atlanticus in a research report on Wednesday, April 17th.

Atlanticus Trading Up 3.9 %

NASDAQ ATLC opened at $27.11 on Tuesday. Atlanticus has a 12 month low of $23.20 and a 12 month high of $43.70. The company has a 50-day moving average of $29.51 and a 200-day moving average of $31.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $401.31 million, a P/E ratio of 6.41 and a beta of 1.84.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $309.09 million during the quarter, compared to the consensus estimate of $304.68 million. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. As a group, equities analysts predict that Atlanticus will post 4.85 earnings per share for the current year.

Insider Buying and Selling

In other Atlanticus news, major shareholder Frank J. Hanna III bought 263,432 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the transaction, the insider now owns 263,432 shares in the company, valued at $7,431,416.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total value of $61,000.00. Following the completion of the transaction, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was bought at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the acquisition, the insider now owns 263,432 shares in the company, valued at $7,431,416.72. The disclosure for this purchase can be found here. Corporate insiders own 52.40% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale purchased a new position in Atlanticus in the 3rd quarter worth approximately $30,000. Barclays PLC boosted its stake in shares of Atlanticus by 23.8% during the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock valued at $68,000 after buying an additional 435 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Atlanticus by 62.4% during the 3rd quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock valued at $190,000 after buying an additional 2,404 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of Atlanticus during the 3rd quarter valued at approximately $282,000. Finally, Simplicity Solutions LLC boosted its stake in shares of Atlanticus by 10.5% during the 3rd quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock valued at $326,000 after buying an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.