Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – What’s Next?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares reached a new 52-week high during trading on Friday . The company traded as high as $93.27 and last traded at $91.5080, with a volume of 36743 shares changing hands. The stock had previously closed at $91.18.

Analyst Ratings Changes

A number of research analysts recently commented on ATLC shares. Citizens Jmp upped their price objective on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a report on Tuesday, March 17th. William Blair set a $100.00 price objective on Atlanticus in a report on Wednesday. Texas Capital upgraded Atlanticus to a “hold” rating in a report on Wednesday. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Finally, Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Atlanticus has an average rating of “Moderate Buy” and a consensus target price of $101.25.

Atlanticus Stock Up 1.3%

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.79 and a beta of 2.14. The business has a fifty day moving average of $76.77 and a 200 day moving average of $64.84. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. The company had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. As a group, equities analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Institutional Trading of Atlanticus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATLC. Royal Bank of Canada raised its position in Atlanticus by 274.6% in the first quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock valued at $1,193,000 after purchasing an additional 17,091 shares during the period. AQR Capital Management LLC purchased a new stake in Atlanticus in the first quarter valued at approximately $1,083,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus in the first quarter valued at approximately $71,000. Empowered Funds LLC raised its position in Atlanticus by 47.3% in the first quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock valued at $1,960,000 after purchasing an additional 12,308 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Atlanticus by 241.1% in the second quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 12,751 shares during the period. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.