Atlanticus (NASDAQ:ATLC) Downgraded by Wall Street Zen to Buy

Atlanticus (NASDAQ:ATLC) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Several other equities research analysts also recently issued reports on ATLC. Citizens Jmp increased their target price on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Finally, Texas Capital raised Atlanticus to a “hold” rating in a report on Wednesday, June 10th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Stock Performance

NASDAQ ATLC opened at $110.46 on Friday. The company’s 50 day moving average is $84.81 and its 200-day moving average is $67.84. Atlanticus has a 12-month low of $45.74 and a 12-month high of $112.61. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm has a market cap of $1.67 billion, a P/E ratio of 16.49 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, topping the consensus estimate of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Sell-side analysts predict that Atlanticus will post 9.48 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

In related news, CFO William Mccamey sold 10,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $109.45, for a total transaction of $1,094,500.00. Following the completion of the transaction, the chief financial officer directly owned 137,410 shares in the company, valued at $15,039,524.50. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $109.45, for a total value of $1,094,500.00. Following the completion of the transaction, the chief executive officer owned 673,265 shares in the company, valued at $73,688,854.25. This represents a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Atlanticus by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after acquiring an additional 249,100 shares during the last quarter. HB Wealth Management LLC lifted its stake in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Atlanticus by 133.5% during the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock worth $5,105,000 after purchasing an additional 53,312 shares during the last quarter. UBS Group AG boosted its holdings in shares of Atlanticus by 333.2% in the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after purchasing an additional 28,907 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in shares of Atlanticus in the 1st quarter worth about $1,083,000. 14.15% of the stock is currently owned by institutional investors.

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.