Atlanticus’ (ATLC) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Atlanticus (NASDAQ:ATLC) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $39.00 price target on the credit services provider’s stock.

Separately, StockNews.com lowered shares of Atlanticus from a strong-buy rating to a buy rating in a report on Wednesday, April 10th.

Atlanticus Trading Down 2.1 %

Atlanticus stock opened at $25.55 on Wednesday. The firm has a 50 day moving average of $30.60 and a 200 day moving average of $31.95. The firm has a market capitalization of $373.36 million, a price-to-earnings ratio of 6.04 and a beta of 1.84. Atlanticus has a 12-month low of $25.50 and a 12-month high of $43.70. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.37.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14. The company had revenue of $309.09 million during the quarter, compared to analyst estimates of $304.68 million. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. As a group, research analysts predict that Atlanticus will post 4.85 earnings per share for the current year.

Insiders Place Their Bets

In other Atlanticus news, major shareholder Frank J. Hanna III purchased 263,432 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction dated Tuesday, April 9th. The stock was purchased at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the transaction, the insider now owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,130,577.50. The disclosure for this sale can be found here. 52.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATLC. Barclays PLC boosted its position in shares of Atlanticus by 184.4% during the 4th quarter. Barclays PLC now owns 1,132 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 734 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Atlanticus during the 1st quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its position in shares of Atlanticus by 499.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,157 shares of the credit services provider’s stock valued at $30,000 after acquiring an additional 964 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Atlanticus during the 3rd quarter valued at approximately $30,000. Finally, Quantbot Technologies LP purchased a new stake in Atlanticus during the 1st quarter valued at $32,000. 14.15% of the stock is currently owned by institutional investors.

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.