What is B. Riley's Estimate for Atlanticus FY2024 Earnings?

Atlanticus Holdings Co. (NASDAQ:ATLC - Free Report) - Equities researchers at B. Riley increased their FY2024 earnings per share estimates for shares of Atlanticus in a research note issued to investors on Wednesday, November 20th. B. Riley analyst M. Howlett now forecasts that the credit services provider will post earnings per share of $4.66 for the year, up from their prior estimate of $4.50. B. Riley currently has a "Buy" rating and a $70.00 price objective on the stock. The consensus estimate for Atlanticus' current full-year earnings is $4.47 per share. B. Riley also issued estimates for Atlanticus' Q4 2024 earnings at $1.31 EPS.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The company had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million.

ATLC has been the topic of several other research reports. JMP Securities lifted 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. Stephens initiated coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an "overweight" rating and a $54.00 target price on the stock. BTIG Research lifted their price target on shares of Atlanticus from $45.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Finally, StockNews.com raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $53.00.

Atlanticus Trading Up 3.4 %

ATLC stock traded up $1.85 during trading on Monday, hitting $57.01. 77,370 shares of the company traded hands, compared to its average volume of 18,201. The company has a 50-day moving average of $39.34 and a 200-day moving average of $33.47. Atlanticus has a 1 year low of $23.09 and a 1 year high of $57.93. The firm has a market capitalization of $840.33 million, a PE ratio of 12.81 and a beta of 1.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Insiders Place Their Bets

In other news, CAO Mitchell Saunders sold 16,004 shares of Atlanticus stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the transaction, the chief accounting officer now directly owns 50,973 shares of the company's stock, valued at $2,831,550.15. The trade was a 23.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deal W. Hudson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now owns 64,955 shares in the company, valued at $2,036,339.25. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,204 shares of company stock worth $1,080,197. Corporate insiders own 51.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Barclays PLC grew its position in Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider's stock valued at $289,000 after acquiring an additional 6,087 shares during the last quarter. Geode Capital Management LLC grew its holdings in Atlanticus by 2.0% during the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider's stock worth $4,298,000 after buying an additional 2,348 shares in the last quarter. Jane Street Group LLC purchased a new stake in Atlanticus in the 3rd quarter valued at about $313,000. Wellington Management Group LLP bought a new position in shares of Atlanticus during the 3rd quarter valued at approximately $1,654,000. Finally, State Street Corp raised its stake in Atlanticus by 2.4% in the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider's stock valued at $3,278,000 after acquiring an additional 2,212 shares during the period. Institutional investors and hedge funds 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.