Evine Live Inc. (EVLV) Stock Rating Lowered by Zacks Investment Research
Evine Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “EVINE Live Inc. is a digital commerce company. It markets, sells, and distributes products to consumers through ShopHQ, a 24-hour television shopping network; and ShopHQ.com, an e-commerce platform, as well as through the company’s mobile application. The Company is focused on new products and brands in fashion, beauty, jewelry, home and fitness. EVINE Live Inc., formerly known as ValueVision Media, Inc., and is headquartered in Eden Prairie, Minnesota. “
Evine Live (NASDAQ:EVLV) remained flat at $2.09 during mid-day trading on Monday. 223,621 shares of the company traded hands. The stock has a 50 day moving average price of $2.02 and a 200 day moving average price of $1.64. Evine Live has a 52-week low of $0.41 and a 52-week high of $3.17. The stock’s market cap is $119.83 million.
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Evine Live (NASDAQ:EVLV) last posted its quarterly earnings data on Wednesday, August 24th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The business earned $157 million during the quarter, compared to the consensus estimate of $166.31 million. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. Evine Live’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, equities research analysts forecast that Evine Live will post ($0.14) earnings per share for the current fiscal year.
In other news, Director Landel C. Hobbs acquired 45,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was acquired at an average cost of $2.21 per share, for a total transaction of $99,450.00. Following the completion of the acquisition, the director now owns 132,575 shares in the company, valued at $292,990.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC boosted its position in shares of Evine Live by 23.9% in the second quarter. Cove Street Capital LLC now owns 6,585,260 shares of the company’s stock valued at $10,866,000 after buying an additional 1,270,256 shares during the period. Emerald Acquisition Ltd. bought a new position in shares of Evine Live during the second quarter valued at approximately $1,658,000. Clinton Group Inc. boosted its position in shares of Evine Live by 73.6% in the second quarter. Clinton Group Inc. now owns 1,601,246 shares of the company’s stock valued at $2,642,000 after buying an additional 678,883 shares during the period. Renaissance Technologies LLC boosted its position in shares of Evine Live by 202.9% in the first quarter. Renaissance Technologies LLC now owns 880,156 shares of the company’s stock valued at $1,030,000 after buying an additional 589,600 shares during the period. Finally, Diker Management LLC bought a new position in shares of Evine Live during the second quarter valued at approximately $638,000. 44.20% of the stock is owned by hedge funds and other institutional investors.
About Evine Live
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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