Atlanticus (NASDAQ:ATLC) Reaches New 12-Month High – Time to Buy?

Atlanticus Holdings Co. (NASDAQ:ATLC)’s share price reached a new 52-week high on Tuesday . The company traded as high as $51.48 and last traded at $51.39, with a volume of 15655 shares trading hands. The stock had previously closed at $49.59.

Analysts Set New Price Targets

Several equities research analysts have commented on ATLC shares. Stephens initiated coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price target on the stock. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. JMP Securities boosted their price target on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. Finally, BTIG Research upped their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.75.

Atlanticus Stock Performance

The stock has a market capitalization of $747.32 million, a P/E ratio of 11.39 and a beta of 1.92. The stock’s 50-day simple moving average is $37.07 and its 200 day simple moving average is $32.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The company had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Research analysts expect that Atlanticus Holdings Co. will post 4.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of Atlanticus stock in a transaction dated 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 owns 64,955 shares in the company, valued at $2,036,339.25. The trade was a 3.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.00, for a total transaction of $55,909.00. Following the completion of the sale, the director now directly owns 5,659 shares of the company’s stock, valued at $277,291. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,200 shares of company stock worth $191,175 in the last 90 days. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares during the period. BNP Paribas Financial Markets grew its stake 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 worth $69,000 after buying an additional 920 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,823 shares during the period. Rhumbline Advisers increased its holdings in 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 buying an additional 690 shares during the period. Finally, Barclays PLC raised its position in shares of Atlanticus by 285.6% in the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after buying an additional 6,087 shares in the last quarter. 14.15% of the stock is 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.