Atlanticus (NASDAQ:ATLC) Sees Strong Trading Volume – What’s Next?

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) saw unusually-strong trading volume on Monday . Approximately 27,742 shares were traded 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Stephens initiated coverage on Atlanticus in a research note on Wednesday, November 13th. They set an “overweight” rating and a $54.00 target price on the stock. BTIG Research upped their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, JMP Securities lifted their price target on Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $48.75.

Atlanticus Stock Performance

The stock has a market cap of $730.96 million, a price-to-earnings ratio of 10.92 and a beta of 1.92. 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’s 50 day moving average is $36.69 and its two-hundred day moving average is $32.40.

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

Insiders Place Their Bets

In other news, Director Deal W. Hudson sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.35, for a total value of $78,375.00. Following the completion of the sale, the director now owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 51.80% of the stock is currently owned by insiders.

Institutional Trading of Atlanticus

Several hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares during the period. Squarepoint Ops LLC increased its stake in Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares during the period. Empowered Funds LLC grew its stake in Atlanticus by 5.0% in 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. BNP Paribas Financial Markets grew its stake in shares of Atlanticus by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after buying an additional 920 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Atlanticus by 393.1% in the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after purchasing an additional 1,820 shares during the last quarter. Institutional investors own 14.15% of the company’s stock.

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.