Sei Investments Co. Boosts Stock Holdings in Envela Corporation $ELA

Sei Investments Co. grew its holdings in Envela Corporation (NYSEAMERICAN:ELA) by 100.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 118,342 shares of the company’s stock after buying an additional 59,171 shares during the quarter. Sei Investments Co.’s holdings in Envela were worth $1,972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of ELA. Topline Capital Management LLC boosted its holdings in Envela by 14.2% in the 2nd quarter. Topline Capital Management LLC now owns 862,433 shares of the company’s stock worth $5,278,000 after buying an additional 107,470 shares during the period. Inspire Investing LLC bought a new stake in Envela during the 4th quarter valued at $1,317,000. Informed Momentum Co LLC bought a new stake in Envela during the 4th quarter valued at $1,300,000. Geode Capital Management LLC lifted its position in shares of Envela by 116.5% during the second quarter. Geode Capital Management LLC now owns 144,247 shares of the company’s stock worth $883,000 after acquiring an additional 77,635 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Envela by 107.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company’s stock worth $630,000 after acquiring an additional 41,830 shares in the last quarter. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

Envela Stock Performance

Shares of ELA opened at $17.18 on Monday. The company has a market cap of $445.99 million, a PE ratio of 19.98 and a beta of 0.41. The company has a current ratio of 4.24, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $23.83 and a 200-day moving average price of $19.26. Envela Corporation has a 12-month low of $5.94 and a 12-month high of $29.68.

Envela (NYSEAMERICAN:ELA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $56.77 million for the quarter, compared to analysts’ expectations of $56.77 million. Envela had a net margin of 7.63% and a return on equity of 31.49%. As a group, equities analysts forecast that Envela Corporation will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ELA has been the subject of a number of analyst reports. B. Riley Financial cut their price target on Envela from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday. Zacks Research cut Envela from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, Lake Street Capital restated a “buy” rating and issued a $27.00 target price on shares of Envela in a research note on Thursday, May 7th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Envela presently has an average rating of “Moderate Buy” and an average target price of $25.00.

About Envela

Envela Corporation is a technology-enabled asset recovery and monetization company that specializes in the acquisition, refurbishment and resale of pre-owned consumer electronics and jewelry, as well as the manufacture and distribution of industrial diamonds. Through its integrated platform, the company sources assets from individuals, retailers and corporate clients, employing proprietary software and physical channel operations to optimize value recovery across multiple product categories.

Originally founded as American Jewelry Liquidators, the business rebranded as Envela in 2018 to reflect its broader strategic focus beyond jewelry.