JMP Securities Reiterates Market Outperform Rating for Atlanticus (NASDAQ:ATLC)

Atlanticus (NASDAQ:ATLC)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $39.00 target price on the credit services provider’s stock. JMP Securities’ target price would indicate a potential upside of 52.34% from the stock’s current price.

Separately, StockNews.com downgraded Atlanticus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th.

Atlanticus Price Performance

Shares of Atlanticus stock traded down $0.51 during trading on Wednesday, hitting $25.60. The stock had a trading volume of 3,823 shares, compared to its average volume of 11,844. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $374.09 million, a P/E ratio of 6.08 and a beta of 1.84. The business has a fifty day moving average of $30.73 and a two-hundred day moving average of $32.00. Atlanticus has a fifty-two week low of $25.50 and a fifty-two week high of $43.70.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data 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 return on equity of 27.93% and a net margin of 8.90%. The business had revenue of $309.09 million during the quarter, compared to analyst estimates of $304.68 million. On average, sell-side analysts expect that Atlanticus will post 4.85 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in Atlanticus in the 1st quarter worth about $29,000. Quantbot Technologies LP acquired a new position in Atlanticus in the 1st quarter worth about $32,000. DekaBank Deutsche Girozentrale acquired a new position in Atlanticus in the 3rd quarter worth about $30,000. Barclays PLC increased its position in Atlanticus by 184.4% in the 4th quarter. Barclays PLC now owns 1,132 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 734 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Atlanticus by 499.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,157 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 964 shares during the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

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.