Elevate Credit Inc (NYSE:ELVT) Director Tyler W. K. Head sold 356,494 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $4.36, for a total transaction of $1,554,313.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Elevate Credit stock traded down $0.18 during mid-day trading on Friday, hitting $4.20. The company had a trading volume of 294,299 shares, compared to its average volume of 579,769. The firm has a market capitalization of $190.04 million, a P/E ratio of 26.25 and a beta of 3.14. Elevate Credit Inc has a 1 year low of $3.71 and a 1 year high of $11.27.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, October 29th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.23). The company had revenue of $201.48 million during the quarter, compared to analysts’ expectations of $201.71 million. Elevate Credit had a negative net margin of 0.49% and a positive return on equity of 12.82%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 earnings per share. As a group, sell-side analysts predict that Elevate Credit Inc will post 0.41 earnings per share for the current year.
A number of research firms recently weighed in on ELVT. ValuEngine lowered shares of Elevate Credit from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Zacks Investment Research lowered shares of Elevate Credit from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 20th. Stephens set a $9.00 price target on shares of Elevate Credit and gave the company a “hold” rating in a research note on Tuesday, July 31st. William Blair reiterated a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.00.
Institutional investors have recently made changes to their positions in the business. Osborn Williams & Donohoe LLC increased its stake in Elevate Credit by 23.7% in the third quarter. Osborn Williams & Donohoe LLC now owns 261,000 shares of the company’s stock valued at $2,104,000 after purchasing an additional 50,000 shares during the last quarter. Ingalls & Snyder LLC purchased a new position in shares of Elevate Credit during the second quarter worth approximately $134,000. Schwab Charles Investment Management Inc. grew its position in shares of Elevate Credit by 45.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 35,400 shares of the company’s stock worth $251,000 after acquiring an additional 11,000 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Elevate Credit by 31.1% during the second quarter. GSA Capital Partners LLP now owns 107,372 shares of the company’s stock worth $908,000 after acquiring an additional 25,472 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Elevate Credit by 5.7% during the first quarter. BlackRock Inc. now owns 830,839 shares of the company’s stock worth $5,883,000 after acquiring an additional 44,744 shares during the last quarter. Institutional investors own 46.09% 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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.
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