Elevate Credit Inc (NYSE:ELVT) – Equities research analysts at William Blair increased their Q2 2020 EPS estimates for shares of Elevate Credit in a research note issued on Wednesday, February 12th. William Blair analyst R. Napoli now forecasts that the company will post earnings per share of $0.21 for the quarter, up from their prior forecast of $0.15. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for Elevate Credit’s Q3 2020 earnings at $0.28 EPS, Q1 2021 earnings at $0.22 EPS, Q2 2021 earnings at $0.26 EPS, Q3 2021 earnings at $0.35 EPS, FY2021 earnings at $1.23 EPS and FY2022 earnings at $1.46 EPS.
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Elevate Credit from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. Zacks Investment Research lowered shares of Elevate Credit from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Stephens lowered shares of Elevate Credit from an “equal weight” rating to an “underweight” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.25.
ELVT stock opened at $4.16 on Thursday. The company’s 50-day simple moving average is $4.65 and its 200-day simple moving average is $4.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.11. Elevate Credit has a 52-week low of $3.71 and a 52-week high of $5.98. The firm 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 posted its earnings results on Monday, February 10th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Elevate Credit had a net margin of 4.31% and a return on equity of 23.06%. The business had revenue of $186.92 million for the quarter, compared to analyst estimates of $186.85 million.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its stake in Elevate Credit by 18.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 190,157 shares of the company’s stock worth $846,000 after acquiring an additional 29,933 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Elevate Credit by 79.0% during the 4th quarter. Bank of New York Mellon Corp now owns 192,636 shares of the company’s stock worth $857,000 after acquiring an additional 85,029 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Elevate Credit by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 91,214 shares of the company’s stock worth $406,000 after acquiring an additional 12,248 shares in the last quarter. UBS Group AG raised its stake in Elevate Credit by 26.9% during the 4th quarter. UBS Group AG now owns 30,804 shares of the company’s stock worth $137,000 after acquiring an additional 6,522 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Elevate Credit by 35.9% during the 4th quarter. Meeder Asset Management Inc. now owns 18,523 shares of the company’s stock worth $83,000 after acquiring an additional 4,895 shares in the last quarter. Hedge funds and other institutional investors own 48.30% of the company’s stock.
In related news, Director Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $4.04, for a total transaction of $60,600.00. Following the completion of the transaction, the director now owns 471,342 shares in the company, valued at approximately $1,904,221.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Scff Management Llc sold 45,598 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $4.35, for a total transaction of $198,351.30. 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. Insiders own 17.00% of the company’s stock.
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, 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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