Atlanticus (NASDAQ:ATLC) Downgraded by StockNews.com

Atlanticus (NASDAQ:ATLC) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other analysts also recently issued reports on ATLC. JMP Securities reissued a “market outperform” rating and set a $39.00 price objective on shares of Atlanticus in a research report on Monday, May 13th. Keefe, Bruyette & Woods started coverage on Atlanticus in a research report on Wednesday. They set a “market perform” rating and a $33.00 price objective for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.50.

Atlanticus Trading Down 1.8 %

Shares of ATLC traded down $0.45 during midday trading on Wednesday, reaching $24.90. The company had a trading volume of 13,566 shares, compared to its average volume of 13,781. Atlanticus has a 1-year low of $23.09 and a 1-year high of $43.70. The stock has a market cap of $368.27 million, a PE ratio of 5.87 and a beta of 1.87. The firm has a 50 day simple moving average of $27.51 and a 200-day simple moving average of $31.40. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.48.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. The business had revenue of $309.09 million during the quarter, compared to the consensus estimate of $304.68 million. Research analysts forecast that Atlanticus will post 4.52 EPS for the current fiscal year.

Insider Activity at Atlanticus

In other news, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was bought at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, the insider now directly owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Deal W. Hudson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the completion of the transaction, the director now directly owns 69,855 shares in the company, valued at approximately $2,130,577.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were purchased at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the completion of the acquisition, the insider now directly owns 263,432 shares in the company, valued at $7,431,416.72. The disclosure for this purchase can be found here. 51.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently made changes to their positions in ATLC. Bank of New York Mellon Corp boosted its stake in shares of Atlanticus by 2.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 50,325 shares of the credit services provider’s stock valued at $1,525,000 after buying an additional 1,304 shares during the period. Barclays PLC boosted its stake in shares of Atlanticus by 23.8% in the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock valued at $68,000 after buying an additional 435 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Atlanticus by 62.4% in the 3rd quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock valued at $190,000 after buying an additional 2,404 shares during the period. Swiss National Bank boosted its stake in shares of Atlanticus by 16.5% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after buying an additional 1,800 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Atlanticus in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

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.