Elevate Credit Inc (NYSE:ELVT) Director Tyler W. K. Head sold 558,650 shares of the firm’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $3.86, for a total transaction of $2,156,389.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of NYSE:ELVT opened at $4.64 on Friday. The firm has a market capitalization of $168.45 million, a P/E ratio of 29.00 and a beta of 0.98. Elevate Credit Inc has a 52 week low of $3.71 and a 52 week high of $11.27.
Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, October 29th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The business had revenue of $201.48 million during the quarter, compared to analysts’ expectations of $201.71 million. Elevate Credit had a positive return on equity of 12.82% and a negative net margin of 0.49%. Elevate Credit’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, analysts forecast that Elevate Credit Inc will post 0.58 earnings per share for the current year.
ELVT has been the topic of several research reports. Zacks Investment Research upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Tuesday, July 24th. Maxim Group raised their price objective on shares of Elevate Credit from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. ValuEngine upgraded shares of Elevate Credit from a “hold” rating to a “buy” rating in a research report on Tuesday, July 10th. Stephens set a $5.00 price objective on shares of Elevate Credit and gave the company a “hold” rating in a research report on Tuesday. Finally, JMP Securities raised their price objective on shares of Elevate Credit from $10.00 to $12.50 and gave the company a “market outperform” rating in a research report on Thursday, July 12th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.00.
A number of large investors have recently modified their holdings of ELVT. BlackRock Inc. raised its position in Elevate Credit by 27.4% in the 2nd quarter. BlackRock Inc. now owns 1,058,585 shares of the company’s stock worth $8,956,000 after purchasing an additional 227,746 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in Elevate Credit in the 2nd quarter worth $1,785,000. Renaissance Technologies LLC purchased a new position in Elevate Credit in the 2nd quarter worth $1,386,000. State Board of Administration of Florida Retirement System purchased a new position in Elevate Credit in the 2nd quarter worth $1,350,000. Finally, Prescott Group Capital Management L.L.C. raised its position in Elevate Credit by 18.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 616,979 shares of the company’s stock worth $5,220,000 after purchasing an additional 94,488 shares during the period. Institutional investors own 45.98% 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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