Elevate Credit Inc (NYSE:ELVT) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 405,100 shares, an increase of 8.5% from the January 15th total of 373,500 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 138,100 shares, the days-to-cover ratio is presently 2.9 days.
A number of equities research analysts have weighed in on ELVT shares. William Blair reiterated a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, November 5th. ValuEngine cut Elevate Credit from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Zacks Investment Research cut Elevate Credit from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Stephens cut Elevate Credit from an “equal weight” rating to an “underweight” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Elevate Credit has a consensus rating of “Hold” and an average target price of $5.25.
NYSE ELVT traded down $0.01 on Friday, reaching $4.16. The stock had a trading volume of 204,651 shares, compared to its average volume of 268,337. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.12 and a current ratio of 1.12. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $5.98. The business’s 50-day moving average price is $4.65 and its 200 day moving average price is $4.40. The stock has a market cap of $203.57 million, a P/E ratio of 5.70 and a beta of 1.26.
Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Monday, February 10th. The company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.02. Elevate Credit had a return on equity of 23.06% and a net margin of 4.31%. The business had revenue of $186.92 million during the quarter, compared to analysts’ expectations of $186.85 million. On average, sell-side analysts predict that Elevate Credit will post 0.84 earnings per share for the current year.
In related news, major shareholder Scff Management Llc sold 45,598 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $4.35, for a total transaction of $198,351.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth E. Rees sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $4.04, for a total value of $60,600.00. Following the sale, the director now owns 471,342 shares of the company’s stock, valued at approximately $1,904,221.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,494 shares of company stock valued at $1,323,806. 17.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its stake in shares of Elevate Credit by 938.7% during the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock worth $57,000 after purchasing an additional 12,316 shares during the last quarter. State Street Corp raised its stake in shares of Elevate Credit by 1.2% during the third quarter. State Street Corp now owns 295,364 shares of the company’s stock worth $1,243,000 after purchasing an additional 3,639 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Elevate Credit by 5.8% during the third quarter. California Public Employees Retirement System now owns 187,600 shares of the company’s stock worth $790,000 after purchasing an additional 10,300 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Elevate Credit by 37.3% during the third quarter. Squarepoint Ops LLC now owns 38,326 shares of the company’s stock worth $161,000 after purchasing an additional 10,417 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Elevate Credit by 21.4% during the second quarter. BlackRock Inc. now owns 1,570,427 shares of the company’s stock worth $6,470,000 after purchasing an additional 276,717 shares during the last quarter. Institutional investors and hedge funds own 48.30% of the company’s stock.
Elevate Credit Company Profile
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, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.
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