Kenneth E. Rees Sells 15,000 Shares of Elevate Credit Inc (ELVT) Stock

Elevate Credit Inc (NYSE:ELVT) CEO Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $4.61, for a total transaction of $69,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Elevate Credit stock remained flat at $$4.59 during midday trading on Friday. 50,994 shares of the company were exchanged, compared to its average volume of 143,758. The company has a market capitalization of $201.79 million, a P/E ratio of 11.77 and a beta of 1.76. Elevate Credit Inc has a 12 month low of $3.71 and a 12 month high of $11.27. The company has a current ratio of 1.10, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.

Elevate Credit (NYSE:ELVT) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.13. The company had revenue of $189.50 million for the quarter, compared to the consensus estimate of $195.52 million. Elevate Credit had a net margin of 2.09% and a return on equity of 18.02%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, equities research analysts predict that Elevate Credit Inc will post 0.6 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc increased its holdings in Elevate Credit by 12.4% during the third quarter. Vanguard Group Inc now owns 990,375 shares of the company’s stock valued at $7,983,000 after buying an additional 109,257 shares during the last quarter. Osborn Williams & Donohoe LLC increased its holdings in Elevate Credit by 42.1% during the fourth quarter. Osborn Williams & Donohoe LLC now owns 371,000 shares of the company’s stock valued at $1,662,000 after buying an additional 110,000 shares during the last quarter. Ingalls & Snyder LLC increased its holdings in Elevate Credit by 17.6% during the fourth quarter. Ingalls & Snyder LLC now owns 38,249 shares of the company’s stock valued at $171,000 after buying an additional 5,730 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Elevate Credit by 271.8% during the third quarter. Dimensional Fund Advisors LP now owns 220,296 shares of the company’s stock valued at $1,776,000 after buying an additional 161,052 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its holdings in Elevate Credit by 256.8% during the fourth quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock valued at $7,089,000 after buying an additional 1,138,873 shares during the last quarter. Institutional investors own 48.70% of the company’s stock.

ELVT has been the topic of a number of research analyst reports. UBS Group downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research report on Friday, February 22nd. BTIG Research downgraded shares of Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 price objective on the stock. in a research report on Thursday, February 14th. Maxim Group restated a “buy” rating and set a $10.00 price objective on shares of Elevate Credit in a research report on Tuesday, February 12th. Zacks Investment Research downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, March 20th. Finally, ValuEngine downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Elevate Credit currently has a consensus rating of “Hold” and an average target price of $7.65.

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Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.

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Insider Buying and Selling by Quarter for Elevate Credit (NYSE:ELVT)

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