Zacks Investment Research Lowers EVINE Live Inc. (EVLV) to Sell
EVINE Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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. “
EVLV has been the topic of several other reports. B. Riley reaffirmed a “buy” rating and set a $2.00 target price on shares of EVINE Live in a report on Monday, May 29th. ValuEngine cut shares of EVINE Live from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, DA Davidson assumed coverage on shares of EVINE Live in a report on Friday. They set a “buy” rating and a $1.30 target price on the stock. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $1.95.
Shares of EVINE Live (NASDAQ:EVLV) remained flat at $1.06 during trading on Monday. 263,109 shares of the stock were exchanged. EVINE Live has a 52-week low of $0.89 and a 52-week high of $2.40. The firm has a 50 day moving average price of $1.01 and a 200 day moving average price of $1.16. The stock’s market cap is $69.14 million.
EVINE Live (NASDAQ:EVLV) last released its quarterly earnings results on Wednesday, August 23rd. The company reported ($0.03) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.03). The firm had revenue of $148.95 million for the quarter, compared to analysts’ expectations of $150.75 million. EVINE Live had a negative net margin of 1.08% and a negative return on equity of 8.38%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. On average, equities analysts expect that EVINE Live will post ($0.02) EPS for the current year.
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In other EVINE Live news, Director Mark Holdsworth bought 50,000 shares of the stock in a transaction dated Friday, July 14th. The shares were bought at an average cost of $0.99 per share, with a total value of $49,500.00. Following the completion of the acquisition, the director now owns 216,092 shares of the company’s stock, valued at $213,931.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.15% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Royce & Associates LP increased its holdings in shares of EVINE Live by 4.0% during the first quarter. Royce & Associates LP now owns 525,993 shares of the company’s stock worth $673,000 after purchasing an additional 20,000 shares during the period. Elk Creek Partners LLC increased its holdings in shares of EVINE Live by 1.2% during the first quarter. Elk Creek Partners LLC now owns 2,067,747 shares of the company’s stock worth $2,647,000 after purchasing an additional 24,593 shares during the period. Renaissance Technologies LLC increased its holdings in shares of EVINE Live by 7.0% during the first quarter. Renaissance Technologies LLC now owns 1,164,056 shares of the company’s stock worth $1,490,000 after purchasing an additional 76,100 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of EVINE Live by 8.3% during the first quarter. Russell Investments Group Ltd. now owns 1,000,000 shares of the company’s stock worth $1,280,000 after purchasing an additional 76,544 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of EVINE Live by 71.5% during the second quarter. Goldman Sachs Group Inc. now owns 236,762 shares of the company’s stock worth $237,000 after purchasing an additional 98,744 shares during the period. 34.16% of the stock is currently owned by institutional investors.
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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