Evine Live Inc. (EVLV) Stock Price Up 5% Following Insider Buying Activity
Evine Live Inc. (NASDAQ:EVLV) shares shot up 5% on Tuesday following insider buying activity. The stock traded as high as $2.17 and last traded at $2.10, with a volume of 143,375 shares trading hands. The stock had previously closed at $2.00.
Specifically, Director Landel C. Hobbs acquired 45,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was bought at an average price of $2.21 per share, with a total value of $99,450.00. Following the completion of the acquisition, the director now owns 132,575 shares of the company’s stock, valued at $292,990.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Michael Arthur Henry acquired 14,500 shares of the business’s stock in a transaction on Friday, October 14th. The stock was purchased at an average cost of $2.14 per share, with a total value of $31,030.00. Following the acquisition, the chief marketing officer now directly owns 52,916 shares of the company’s stock, valued at approximately $113,240.24. The disclosure for this purchase can be found here. 3.49% of the stock is currently owned by company insiders.
EVLV has been the subject of a number of research reports. Zacks Investment Research raised shares of Evine Live from a “hold” rating to a “strong-buy” rating and set a $2.25 target price for the company in a research note on Tuesday, July 19th. B. Riley initiated coverage on shares of Evine Live in a research note on Monday. They set a “buy” rating and a $3.50 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.81.
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The company has a 50 day moving average price of $2.08 and a 200-day moving average price of $1.69. The company’s market capitalization is $119.83 million.
Evine Live (NASDAQ:EVLV) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The firm earned $157 million during the quarter, compared to analysts’ expectations of $166.31 million. Evine Live had a negative net margin of 1.64% and a negative return on equity of 9.79%. Evine Live’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Equities analysts forecast that Evine Live Inc. will post ($0.14) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake 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 worth $1,030,000 after buying an additional 589,600 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Evine Live during the second quarter worth $1,658,000. 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. 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. Finally, Laurion Capital Management LP acquired a new stake in shares of Evine Live during the second quarter worth $249,000. Hedge funds and other institutional investors own 44.20% of the company’s stock.
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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