B. Riley Has Strong Forecast for Atlanticus FY2024 Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC) – Stock analysts at B. Riley raised their FY2024 EPS estimates for shares of Atlanticus in a research report issued on Wednesday, November 20th. B. Riley analyst M. Howlett now expects that the credit services provider will post earnings per share of $4.66 for the year, up from their previous estimate of $4.50. B. Riley has a “Buy” rating and a $70.00 price objective on the stock. The consensus estimate for Atlanticus’ current full-year earnings is $4.47 per share. B. Riley also issued estimates for Atlanticus’ Q4 2024 earnings at $1.31 EPS.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The business had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million.

ATLC has been the subject of several other research reports. BTIG Research raised their price target on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. JMP Securities upped their price target on Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a research report on Wednesday, November 13th. Finally, Stephens started coverage on Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $53.00.

Atlanticus Stock Performance

Shares of ATLC stock opened at $57.01 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $840.33 million, a price-to-earnings ratio of 12.81 and a beta of 1.92. Atlanticus has a 52 week low of $23.09 and a 52 week high of $57.93. The firm’s 50-day simple moving average is $39.34 and its two-hundred day simple moving average is $33.47.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATLC. BNP Paribas Financial Markets raised its position in shares of Atlanticus by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after buying an additional 920 shares in the last quarter. Vanguard Group Inc. increased its stake in Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after acquiring an additional 2,453 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 690 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 704 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of Atlanticus by 5.0% during the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 804 shares in the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Mitchell Saunders sold 16,004 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares in the company, valued at $2,831,550.15. This represents a 23.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares of the company’s stock, valued at $2,036,339.25. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,204 shares of company stock worth $1,080,197 over the last 90 days. Corporate insiders own 51.80% 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.