Atlanticus (NASDAQ:ATLC) Sees Large Volume Increase – Still a Buy?

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) saw unusually-high trading volume on Monday . Approximately 27,742 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 17,228 shares.The stock last traded at $51.00 and had previously closed at $48.58.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ATLC shares. JMP Securities increased their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research lifted their price target on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Stephens initiated coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $48.75.

Atlanticus Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The stock has a market cap of $730.96 million, a P/E ratio of 10.92 and a beta of 1.92. The stock has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $32.40.

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

Insider Transactions at Atlanticus

In related news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total value of $39,300.00. Following the completion of the transaction, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 51.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Atlanticus by 65.5% in the 1st 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 in the last quarter. FMR LLC increased its stake in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,820 shares during the period. MetLife Investment Management LLC raised its holdings in Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,823 shares during the last quarter. Rhumbline Advisers raised its holdings in 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 buying an additional 690 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after buying an additional 704 shares during the period. 14.15% of the stock is currently owned by institutional investors.

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.