Bridgeway Capital Management LLC Sells 2,900 Shares of Envela Co. (NYSEAMERICAN:ELA)

Bridgeway Capital Management LLC reduced its position in shares of Envela Co. (NYSEAMERICAN:ELA) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,100 shares of the company’s stock after selling 2,900 shares during the quarter. Bridgeway Capital Management LLC owned 0.34% of Envela worth $640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Topline Capital Management LLC purchased a new position in Envela during the fourth quarter valued at $5,418,000. 683 Capital Management LLC bought a new position in shares of Envela during the 4th quarter valued at approximately $386,000. Northern Trust Corp increased its holdings in Envela by 67.1% in the 4th quarter. Northern Trust Corp now owns 49,320 shares of the company’s stock worth $354,000 after acquiring an additional 19,799 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Envela by 217.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company’s stock worth $279,000 after acquiring an additional 26,598 shares during the period. Finally, Ancora Advisors LLC purchased a new position in Envela during the fourth quarter valued at approximately $244,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Envela Stock Up 2.6%

Shares of Envela stock opened at $6.60 on Monday. The stock has a market capitalization of $171.60 million, a P/E ratio of 27.50 and a beta of 0.35. The company has a quick ratio of 2.08, a current ratio of 4.76 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $6.15. Envela Co. has a 52 week low of $4.20 and a 52 week high of $7.88.

Analyst Ratings Changes

Separately, Lake Street Capital raised their price objective on shares of Envela from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday.

Envela Company Profile

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.