Elevate Credit (NYSE:ELVT) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS


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Elevate Credit (NYSE:ELVT) released its quarterly earnings data on Monday. The company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.22, MarketWatch Earnings reports. Elevate Credit had a net margin of 5.73% and a return on equity of 31.90%.

Shares of NYSE ELVT traded up $0.25 during trading hours on Tuesday, hitting $3.49. 21,628 shares of the company’s stock were exchanged, compared to its average volume of 466,829. Elevate Credit has a 1-year low of $1.35 and a 1-year high of $4.90. The stock has a market capitalization of $124.44 million, a price-to-earnings ratio of 4.34 and a beta of 2.87. The company’s 50-day moving average price is $3.30 and its 200-day moving average price is $3.52.

ELVT has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Elevate Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, April 13th. Credit Suisse Group lifted their price objective on shares of Elevate Credit from $4.90 to $5.60 and gave the stock an “outperform” rating in a research report on Tuesday, February 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $3.62.

In other news, major shareholder Linda Stinson sold 9,200 shares of Elevate Credit stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $3.00, for a total transaction of $27,600.00. Following the completion of the transaction, the insider now directly owns 86,938 shares in the company, valued at approximately $260,814. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tyler W. K. Head sold 299,970 shares of the stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $3.16, for a total transaction of $947,905.20. Over the last quarter, insiders sold 1,408,365 shares of company stock worth $4,708,069. Corporate insiders own 18.00% of the company’s stock.

About Elevate Credit

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States. It offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise, an installment loan product; Elastic, a line of credit product; and Today Card, a credit card product.

See Also: Bid-Ask Spread

Earnings History for Elevate Credit (NYSE:ELVT)

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