Shares of Elevate Credit Inc (NYSE:ELVT) have earned an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.50.
ELVT has been the subject of several research reports. Zacks Investment Research cut shares of Elevate Credit from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, November 5th. Finally, ValuEngine cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th.
NYSE ELVT traded up $0.05 during trading hours on Thursday, hitting $4.12. The company’s stock had a trading volume of 95,400 shares, compared to its average volume of 117,700. Elevate Credit has a 12 month low of $3.71 and a 12 month high of $5.21. The company’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $4.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $179.72 million, a P/E ratio of 10.56 and a beta of 1.33.
Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.10. The business had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $193.34 million. Elevate Credit had a net margin of 3.65% and a return on equity of 20.93%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, research analysts predict that Elevate Credit will post 0.71 earnings per share for the current fiscal year.
In related news, Director Kenneth E. Rees sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $4.37, for a total value of $65,550.00. Also, major shareholder Scff Management Llc sold 10,711 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $3.91, for a total transaction of $41,880.01. The disclosure for this sale can be found here. Insiders sold 341,126 shares of company stock valued at $1,391,730 in the last ninety days. 17.00% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. raised its position in Elevate Credit by 938.7% in the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock worth $57,000 after acquiring an additional 12,316 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Elevate Credit by 98.0% during the 2nd quarter. Acadian Asset Management LLC now owns 145,204 shares of the company’s stock worth $598,000 after acquiring an additional 71,873 shares during the last quarter. BlackRock Inc. grew its position in shares of Elevate Credit by 21.4% during the 2nd quarter. BlackRock Inc. now owns 1,570,427 shares of the company’s stock valued at $6,470,000 after acquiring an additional 276,717 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Elevate Credit by 46.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 20,027 shares of the company’s stock valued at $83,000 after acquiring an additional 6,323 shares during the period. Finally, Mackay Shields LLC increased its stake in shares of Elevate Credit by 29.6% in the 3rd quarter. Mackay Shields LLC now owns 141,727 shares of the company’s stock worth $596,000 after purchasing an additional 32,400 shares in the last quarter. 48.14% of the stock is owned by institutional investors and hedge funds.
About Elevate Credit
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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