Atlanticus (NASDAQ:ATLC) Rating Lowered to Buy at StockNews.com

Atlanticus (NASDAQ:ATLC) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

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

Atlanticus Trading Down 3.6 %

NASDAQ ATLC opened at $26.45 on Wednesday. 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 has a fifty-two week low of $23.20 and a fifty-two week high of $43.70. The stock has a market cap of $391.46 million, a P/E ratio of 6.25 and a beta of 1.84. The stock has a 50 day simple moving average of $29.39 and a two-hundred day simple moving average of $31.73.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. The business had revenue of $309.09 million for the quarter, compared to analysts’ expectations of $304.68 million. On average, analysts forecast that Atlanticus will post 4.85 earnings per share for the current year.

Insider Activity at Atlanticus

In related 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 value of $61,000.00. Following the completion of the sale, the director now directly owns 69,855 shares in the company, valued at approximately $2,130,577.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Atlanticus news, major shareholder Frank J. Hanna III purchased 263,432 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the transaction, the insider now owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the transaction, the director now owns 69,855 shares in the company, valued at $2,130,577.50. The disclosure for this sale can be found here. 52.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale purchased a new position in shares of Atlanticus in the third quarter valued at about $30,000. Barclays PLC boosted its stake in Atlanticus by 23.8% in the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after purchasing an additional 435 shares during the period. New York State Common Retirement Fund grew its holdings in 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 in the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Atlanticus during the third quarter valued at approximately $282,000. Finally, Simplicity Solutions LLC boosted its position in shares of Atlanticus by 10.5% during the third quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock worth $326,000 after acquiring an additional 1,024 shares during the last quarter. Hedge funds and other institutional investors 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.