JMP Securities Increases Atlanticus (NASDAQ:ATLC) Price Target to $75.00

Atlanticus (NASDAQ:ATLC) had its price target upped by equities research analysts at JMP Securities from $54.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective would suggest a potential upside of 26.80% from the stock’s previous close.

Other analysts have also issued reports about the company. Stephens started coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. BTIG Research lifted their price objective on 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 report on Friday, August 9th. Finally, B. Riley upped their target price on Atlanticus from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $57.20.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $59.15 on Tuesday. Atlanticus has a 12 month low of $23.09 and a 12 month high of $59.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $871.87 million, a PE ratio of 13.29 and a beta of 2.05. The business’s fifty day moving average price is $41.21 and its 200 day moving average price is $34.34.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The business had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. On average, sell-side analysts anticipate that Atlanticus will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 2,500 shares of the company’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 value of $78,375.00. Following the completion of the sale, the director now directly owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. This represents a 3.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the completion of the sale, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at $2,831,550.15. This represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,204 shares of company stock valued at $1,080,197. Corporate insiders own 51.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after acquiring an additional 2,453 shares in the last quarter. Rhumbline Advisers grew its stake in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares during the period. Squarepoint Ops LLC boosted its position in shares of Atlanticus by 9.3% during the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Atlanticus by 5.0% in the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after buying an additional 804 shares during the period. Finally, Barclays PLC raised its stake in Atlanticus by 285.6% during the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.