Elevate Credit (ELVT) Posts Quarterly Earnings Results, Hits Estimates

Elevate Credit (NYSE:ELVT) posted its quarterly earnings data on Monday. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09, Bloomberg Earnings reports. Elevate Credit had a negative net margin of 0.49% and a positive return on equity of 12.69%. Elevate Credit updated its FY 2019 guidance to $0.55-0.65 EPS.

Shares of Elevate Credit stock opened at $4.38 on Tuesday. Elevate Credit has a twelve month low of $3.71 and a twelve month high of $11.27. The stock has a market cap of $188.77 million, a PE ratio of 27.38 and a beta of 1.81.

ELVT has been the topic of several recent research reports. William Blair reiterated a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, October 30th. ValuEngine upgraded shares of Elevate Credit from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. JMP Securities reiterated a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, October 30th. Jefferies Financial Group lowered shares of Elevate Credit from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.50 to $5.00 in a research report on Tuesday, January 8th. Finally, Stephens set a $5.00 target price on shares of Elevate Credit and gave the company a “hold” rating in a research report on Tuesday, October 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $9.29.

In other news, Director John C. Dean purchased 33,000 shares of Elevate Credit stock in a transaction on Wednesday, November 28th. The shares were purchased at an average cost of $4.52 per share, for a total transaction of $149,160.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 32.00% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its position in shares of Elevate Credit by 55.1% during the fourth quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock worth $119,000 after purchasing an additional 9,408 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Elevate Credit by 72.2% during the fourth quarter. Stephens Inc. AR now owns 31,000 shares of the company’s stock worth $139,000 after purchasing an additional 13,000 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Elevate Credit by 18.7% during the fourth quarter. First Trust Advisors LP now owns 32,701 shares of the company’s stock worth $147,000 after purchasing an additional 5,148 shares in the last quarter. Ingalls & Snyder LLC lifted its position in shares of Elevate Credit by 17.6% during the fourth quarter. Ingalls & Snyder LLC now owns 38,249 shares of the company’s stock worth $171,000 after purchasing an additional 5,730 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Elevate Credit by 80.2% during the fourth quarter. Bank of New York Mellon Corp now owns 100,229 shares of the company’s stock worth $449,000 after purchasing an additional 44,609 shares in the last quarter. Hedge funds and other institutional investors own 42.70% of the company’s stock.

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About Elevate Credit

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.

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Earnings History for Elevate Credit (NYSE:ELVT)

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