Shares of Elevate Credit Inc (NYSE:ELVT) have received a consensus rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $6.50.
ELVT has been the subject of a number of recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $6.00 target price on shares of Elevate Credit in a research report on Tuesday, July 16th. ValuEngine upgraded shares of Elevate Credit from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Elevate Credit from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.
In other Elevate Credit news, CEO Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $4.46, for a total value of $66,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Sequoia Capital Growth Fund Ii sold 43,380 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $4.20, for a total transaction of $182,196.00. The disclosure for this sale can be found here. Insiders sold a total of 826,550 shares of company stock valued at $3,537,187 over the last three months. 17.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ELVT. Bank of America Corp DE lifted its stake in Elevate Credit by 270.2% during the fourth quarter. Bank of America Corp DE now owns 30,765 shares of the company’s stock valued at $138,000 after buying an additional 22,455 shares in the last quarter. Spark Investment Management LLC increased its holdings in Elevate Credit by 10.4% in the first quarter. Spark Investment Management LLC now owns 145,500 shares of the company’s stock worth $631,000 after buying an additional 13,700 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Elevate Credit by 80.2% in the fourth quarter. Bank of New York Mellon Corp now owns 100,229 shares of the company’s stock worth $449,000 after buying an additional 44,609 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Elevate Credit by 12.0% in the first quarter. Acadian Asset Management LLC now owns 73,331 shares of the company’s stock worth $319,000 after buying an additional 7,861 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Elevate Credit by 6.0% in the fourth quarter. Geode Capital Management LLC now owns 173,812 shares of the company’s stock worth $778,000 after buying an additional 9,877 shares during the last quarter. 51.35% of the stock is owned by institutional investors.
ELVT stock opened at $4.41 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.11 and a quick ratio of 1.11. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $10.00. The firm has a fifty day moving average price of $4.53 and a two-hundred day moving average price of $4.45. The firm has a market cap of $210.08 million, a price-to-earnings ratio of 8.81 and a beta of 1.40.
Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The firm had revenue of $177.76 million during the quarter, compared to analyst estimates of $187.48 million. Elevate Credit had a net margin of 2.45% and a return on equity of 19.19%. Elevate Credit’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 EPS. As a group, analysts expect that Elevate Credit will post 0.6 EPS for the current fiscal year.
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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