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 note issued to investors 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. “
Shares of Evine Live (NASDAQ:EVLV) remained flat at $2.09 during mid-day trading on Monday. 223,621 shares of the company traded hands. The firm’s market cap is $119.83 million. The company has a 50 day moving average price of $2.02 and a 200-day moving average price of $1.64. Evine Live has a 12-month low of $0.41 and a 12-month high of $3.17.
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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 for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The business had revenue of $157 million for the quarter, compared to analysts’ expectations of $166.31 million. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. Equities analysts predict that Evine Live will post ($0.14) earnings per share for the current year.
In other news, Director Landel C. Hobbs acquired 45,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 132,575 shares in the company, valued at approximately $292,990.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.49% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Clinton Group Inc. boosted 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 valued at $2,642,000 after buying an additional 678,883 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Evine Live during the second quarter worth approximately $249,000. Elk Creek Partners LLC boosted its stake in shares of 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 $1,800,000 after buying an additional 174,053 shares in the last quarter. Teton Advisors Inc. boosted its stake in shares of Evine Live by 4.2% in the second quarter. Teton Advisors Inc. now owns 249,200 shares of the company’s stock worth $411,000 after buying an additional 10,000 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Evine Live during the second quarter worth approximately $1,658,000. 44.20% of the stock is currently owned by institutional investors and hedge funds.
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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