Atlanticus (NASDAQ:ATLC) Given New $70.00 Price Target at B. Riley

Atlanticus (NASDAQ:ATLC) had its target price increased by B. Riley from $50.00 to $70.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Other equities analysts have also issued reports about the company. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. JMP Securities raised their target price on Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. BTIG Research boosted their price target on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Stephens initiated coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atlanticus presently has an average rating of “Buy” and a consensus price target of $53.00.

Atlanticus Trading Up 1.6 %

NASDAQ:ATLC opened at $55.16 on Thursday. Atlanticus has a 1 year low of $23.09 and a 1 year high of $56.42. The business has a fifty day moving average of $38.83 and a 200-day moving average of $33.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The stock has a market cap of $813.06 million, a price-to-earnings ratio of 12.40 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.23 by $0.04. The firm had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. Equities analysts predict that Atlanticus will post 4.41 earnings per share for the current year.

Insider Activity

In other news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.00, for a total transaction of $55,909.00. Following the sale, the director now owns 5,659 shares in the company, valued at $277,291. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deal W. Hudson sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the transaction, the director now directly owns 67,455 shares of the company’s stock, valued at $2,209,151.25. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,204 shares of company stock valued at $1,080,197 over the last three months. Insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Several large investors have recently added to or reduced their stakes in ATLC. Vanguard Group Inc. raised its position in Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after buying an additional 2,453 shares during the period. Rhumbline Advisers increased its holdings in shares of Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares during the period. Squarepoint Ops LLC lifted its position in shares of Atlanticus by 9.3% in the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after purchasing an additional 920 shares during the period. Finally, Empowered Funds LLC grew its position in Atlanticus by 5.0% during the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 804 shares in 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.