Atlanticus (NASDAQ:ATLC) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

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

Atlanticus Price Performance

NASDAQ ATLC opened at $27.03 on Wednesday. Atlanticus has a 1 year low of $23.20 and a 1 year high of $43.70. The business’s fifty day moving average is $28.85 and its two-hundred day moving average is $31.63. The stock has a market capitalization of $400.04 million, a P/E ratio of 6.39 and a beta of 1.87. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.38 and a current ratio of 1.38.

Atlanticus (NASDAQ:ATLC) last announced 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 company had revenue of $309.09 million for the quarter, compared to analyst estimates of $304.68 million. Atlanticus had a return on equity of 27.93% and a net margin of 8.90%. On average, research analysts forecast that Atlanticus will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the transaction, the director now owns 69,855 shares of the company’s stock, valued at approximately $2,130,577.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder Frank J. Hanna III acquired 263,432 shares of Atlanticus 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 completion of the transaction, the insider now owns 263,432 shares in the company, valued at $7,431,416.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Deal W. Hudson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were 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 disclosure for this sale can be found here. Company insiders own 52.40% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its position in Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after acquiring an additional 920 shares in the last quarter. Denali Advisors LLC lifted its stake in shares of Atlanticus by 5.2% in the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock valued at $771,000 after purchasing an additional 1,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock valued at $23,290,000 after purchasing an additional 7,234 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Atlanticus in the third quarter worth $282,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Atlanticus during the third quarter worth $30,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Company Profile

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.