Atlanticus (NASDAQ:ATLC) Trading Up 7.1% After Better-Than-Expected Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC - Get Free Report)'s share price was up 7.1% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $47.16 and last traded at $46.81. Approximately 10,800 shares changed hands during trading, a decline of 82% from the average daily volume of 61,646 shares. The stock had previously closed at $43.71.

The credit services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.23 by $0.19. The company had revenue of $353.19 million for the quarter, compared to the consensus estimate of $355.02 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. JMP Securities increased their target price on shares of Atlanticus from $54.00 to $75.00 and gave the stock a "market outperform" rating in a report on Tuesday, December 3rd. B. Riley upgraded shares of Atlanticus to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $52.00 target price (up from $45.00) on shares of Atlanticus in a report on Monday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $61.00.

Institutional Trading of Atlanticus

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Atlanticus by 229.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock valued at $41,000 after buying an additional 507 shares in the last quarter. FMR LLC boosted its holdings 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 buying an additional 1,820 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of 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 in the last quarter. Globeflex Capital L P bought a new stake in shares of Atlanticus in the 4th quarter valued at about $119,000. Finally, SG Americas Securities LLC acquired a new stake in Atlanticus in the 4th quarter worth approximately $129,000. 14.15% of the stock is currently owned by institutional investors.

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Atlanticus Stock Up 2.0 %

The business's 50 day moving average is $55.25 and its 200 day moving average is $48.56. The company has a market capitalization of $715.58 million, a price-to-earnings ratio of 10.91 and a beta of 2.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

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.