Atlanticus (NASDAQ:ATLC) Shares Gap Up - Should You Buy?

Atlanticus Holdings Co. (NASDAQ:ATLC - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $34.52, but opened at $35.28. Atlanticus shares last traded at $35.28, with a volume of 757 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Friday, August 9th.

Atlanticus Trading Up 3.1 %

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $524.45 million, a P/E ratio of 8.45 and a beta of 1.92. The firm has a fifty day moving average price of $33.28 and a 200-day moving average price of $30.18.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The credit services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.12. Atlanticus had a return on equity of 25.32% and a net margin of 8.42%. The business had revenue of $315.64 million for the quarter, compared to analysts' expectations of $309.74 million. On average, equities research analysts anticipate that Atlanticus Holdings Co. will post 4.54 earnings per share for the current year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.75, for a total value of $39,300.00. Following the sale, the director now owns 67,455 shares of the company's stock, valued at approximately $2,209,151.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Deal W. Hudson sold 2,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares in the company, valued at approximately $2,036,339.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.75, for a total value of $39,300.00. Following the completion of the sale, the director now directly owns 67,455 shares of the company's stock, valued at approximately $2,209,151.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 51.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanticus

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Atlanticus by 1.0% in the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider's stock valued at $7,655,000 after purchasing an additional 2,453 shares during the period. Denali Advisors LLC raised its holdings in Atlanticus by 5.2% during the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider's stock valued at $771,000 after acquiring an additional 1,285 shares during the period. Empowered Funds LLC grew its position in shares of Atlanticus by 7.5% in the first quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider's stock valued at $447,000 after purchasing an additional 1,050 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider's stock valued at $234,000 after purchasing an additional 704 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider's stock worth $229,000 after purchasing an additional 690 shares in the last quarter. 14.15% of the stock is owned by hedge funds and other 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.