Atlanticus (NASDAQ:ATLC) Trading 7.1% Higher on Better-Than-Expected Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC) shares rose 7.1% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $47.16 and last traded at $46.81. Approximately 10,800 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 61,646 shares. The stock had previously closed at $43.71.

The credit services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.19. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The business had revenue of $353.19 million during the quarter, compared to analysts’ expectations of $355.02 million.

Analysts Set New Price Targets

ATLC has been the subject of a number of research reports. JMP Securities increased their target price on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. B. Riley raised Atlanticus to a “strong-buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Atlanticus has a consensus rating of “Buy” and an average target price of $57.20.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Atlanticus by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 125,558 shares of the credit services provider’s stock worth $7,004,000 after purchasing an additional 20,800 shares during the last quarter. Geode Capital Management LLC raised its holdings in Atlanticus by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after purchasing an additional 2,348 shares during the last quarter. Wellington Management Group LLP raised its holdings in Atlanticus by 159.2% during the 4th quarter. Wellington Management Group LLP now owns 122,225 shares of the credit services provider’s stock worth $6,818,000 after purchasing an additional 75,068 shares during the last quarter. State Street Corp raised its holdings in Atlanticus by 2.4% during the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Atlanticus in the 4th quarter valued at $3,828,000. Institutional investors own 14.15% of the company’s stock.

Atlanticus Stock Up 11.3 %

The firm’s 50 day moving average price is $55.55 and its two-hundred day moving average price is $48.29. The company has a market cap of $716.90 million, a P/E ratio of 10.93 and a beta of 2.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

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.