Elevate Credit Inc (NYSE:ELVT) Major Shareholder Sells $143,992.00 in Stock

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Elevate Credit Inc (NYSE:ELVT) major shareholder Sequoia Capital Growth Fund Ii sold 32,800 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $4.39, for a total transaction of $143,992.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Sequoia Capital Growth Fund Ii also recently made the following trade(s):

  • On Tuesday, June 11th, Sequoia Capital Growth Fund Ii sold 39,065 shares of Elevate Credit stock. The stock was sold at an average price of $4.29, for a total transaction of $167,588.85.
  • On Thursday, June 6th, Sequoia Capital Growth Fund Ii sold 42,181 shares of Elevate Credit stock. The stock was sold at an average price of $4.28, for a total transaction of $180,534.68.
  • On Monday, June 3rd, Sequoia Capital Growth Fund Ii sold 43,380 shares of Elevate Credit stock. The stock was sold at an average price of $4.20, for a total transaction of $182,196.00.

Shares of NYSE:ELVT opened at $4.15 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.12. The stock has a market cap of $185.74 million, a P/E ratio of 8.92 and a beta of 1.57. Elevate Credit Inc has a 52 week low of $3.71 and a 52 week high of $11.27. The company has a 50 day moving average price of $4.43.

Elevate Credit (NYSE:ELVT) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The business had revenue of $189.50 million during the quarter, compared to the consensus estimate of $195.52 million. Elevate Credit had a net margin of 2.09% and a return on equity of 18.02%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, sell-side analysts predict that Elevate Credit Inc will post 0.6 EPS for the current year.

Several large investors have recently modified their holdings of ELVT. Vanguard Group Inc. raised its holdings in Elevate Credit by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 990,375 shares of the company’s stock worth $7,983,000 after purchasing an additional 109,257 shares during the period. Rhumbline Advisers raised its holdings in shares of Elevate Credit by 55.1% during the fourth quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock valued at $119,000 after acquiring an additional 9,408 shares during the last quarter. First Trust Advisors LP raised its holdings 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 valued at $147,000 after acquiring an additional 5,148 shares during the last quarter. Stephens Inc. AR raised its holdings 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 valued at $139,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings 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 valued at $449,000 after acquiring an additional 44,609 shares during the last quarter. Institutional investors and hedge funds own 50.58% of the company’s stock.

A number of analysts recently weighed in on ELVT shares. Zacks Investment Research upgraded shares of Elevate Credit from a “sell” rating to a “hold” rating in a report on Friday, April 19th. ValuEngine cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Elevate Credit has an average rating of “Hold” and an average price target of $7.65.

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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