Atlanticus (NASDAQ:ATLC) Trading 7.1% Higher – What’s Next?

Atlanticus Holdings Co. (NASDAQ:ATLC) traded up 7.1% on Friday . The stock traded as high as $47.16 and last traded at $46.81. 10,800 shares were traded during trading, a decline of 82% from the average session volume of 61,646 shares. The stock had previously closed at $43.71.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. B. Riley upgraded Atlanticus to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities upped their price objective on Atlanticus from $54.00 to $75.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $57.20.

Atlanticus Stock Performance

The stock’s 50 day moving average price is $55.91 and its 200 day moving average price is $48.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market capitalization of $712.56 million, a P/E ratio of 10.86 and a beta of 2.16.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors have recently modified their holdings of ATLC. Wellington Management Group LLP lifted its position in shares of Atlanticus by 159.2% during the 4th quarter. Wellington Management Group LLP now owns 122,225 shares of the credit services provider’s stock valued at $6,818,000 after acquiring an additional 75,068 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Atlanticus during the 4th quarter valued at $3,828,000. Renaissance Technologies LLC lifted its position in shares of Atlanticus by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 125,558 shares of the credit services provider’s stock valued at $7,004,000 after acquiring an additional 20,800 shares during the period. American Century Companies Inc. lifted its position in shares of Atlanticus by 60.7% during the 4th quarter. American Century Companies Inc. now owns 52,334 shares of the credit services provider’s stock valued at $2,919,000 after acquiring an additional 19,776 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Atlanticus during the 4th quarter valued at $987,000. 14.15% of the stock is 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.