Evine Live Inc. (EVLV) Trading 2.7% Higher After Insider Buying Activity
Evine Live Inc. (NASDAQ:EVLV) shares traded up 2.7% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $2.29 and last traded at $2.25, with a volume of 99,064 shares trading hands. The stock had previously closed at $2.19.
Specifically, Director Landel C. Hobbs purchased 45,000 shares of Evine Live stock in a transaction dated Monday, September 19th. The shares were acquired at an average cost of $2.21 per share, with a total value of $99,450.00. Following the purchase, the director now owns 132,575 shares of the company’s stock, valued at $292,990.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.49% of the stock is currently owned by insiders.
Several brokerages recently weighed in on EVLV. Zacks Investment Research raised shares of Evine Live from a “sell” rating to a “hold” rating in a research note on Thursday, May 26th. Maxim Group began coverage on shares of Evine Live in a research note on Thursday, June 9th. They set a “buy” rating and a $2.50 target price on the stock.
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The firm’s market cap is $129.00 million. The firm has a 50 day moving average of $1.82 and a 200 day moving average of $1.52.
Evine Live (NASDAQ:EVLV) last posted its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Evine Live had a negative net margin of 1.64% and a negative return on equity of 9.79%. The firm had revenue of $157 million for the quarter, compared to analyst estimates of $166.31 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Evine Live’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts predict that Evine Live Inc. will post ($0.14) earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cove Street Capital LLC raised its stake in Evine Live by 23.9% in the second quarter. Cove Street Capital LLC now owns 6,585,260 shares of the company’s stock worth $10,866,000 after buying an additional 1,270,256 shares in the last quarter. Elk Creek Partners LLC raised its stake in Evine Live by 8.8% in the second quarter. Elk Creek Partners LLC now owns 2,150,309 shares of the company’s stock worth $3,548,000 after buying an additional 174,053 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Evine Live during the second quarter worth about $295,000. Diker Management LLC purchased a new stake in Evine Live during the second quarter worth about $638,000. Finally, Clinton Group Inc. raised its stake in Evine Live by 73.6% in the second quarter. Clinton Group Inc. now owns 1,601,246 shares of the company’s stock worth $2,642,000 after buying an additional 678,883 shares in the last quarter. Hedge funds and other institutional investors own 44.36% of the company’s stock.
Evine Live Company Profile
EVINE Live Inc is a digital commerce company. The Company operates through the digital commerce retailing segment. The Company offers a mix of brands directly to consumers in an engaging and informative shopping experience through television (TV), online and mobile devices. It operates an around the clock television shopping network, EVINE Live, which is distributed primarily on cable and satellite systems, through which the Company offers brand products in the categories of jewelry and watches, home and consumer electronics, beauty, and fashion and accessories.
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