Spark Investment Management LLC boosted its holdings in shares of Elevate Credit Inc (NYSE:ELVT) by 10.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,500 shares of the company’s stock after acquiring an additional 13,700 shares during the quarter. Spark Investment Management LLC owned 0.34% of Elevate Credit worth $631,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ELVT. First Trust Advisors LP lifted its holdings in shares of Elevate Credit by 18.7% in the 4th quarter. First Trust Advisors LP now owns 32,701 shares of the company’s stock worth $147,000 after buying an additional 5,148 shares during the period. Ingalls & Snyder LLC lifted its holdings in shares of Elevate Credit by 17.6% in the 4th quarter. Ingalls & Snyder LLC now owns 38,249 shares of the company’s stock worth $171,000 after buying an additional 5,730 shares during the period. Rhumbline Advisers lifted its holdings in shares of Elevate Credit by 55.1% in the 4th quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock worth $119,000 after buying an additional 9,408 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Elevate Credit by 6.0% in the 4th 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 period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Elevate Credit in the 1st quarter worth $45,000. Institutional investors own 50.58% of the company’s stock.
ELVT has been the subject of a number of analyst reports. UBS Group cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research note on Friday, February 22nd. BTIG Research cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 price objective for the company. in a research note on Thursday, February 14th. Zacks Investment Research cut Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, ValuEngine cut Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.65.
In related news, major shareholder Scff Management Llc sold 57,592 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $4.35, for a total transaction of $250,525.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth E. Rees sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $4.44, for a total value of $66,600.00. The disclosure for this sale can be found here. Insiders sold 262,518 shares of company stock worth $1,138,066 over the last three months. Corporate insiders own 17.00% of the company’s stock.
NYSE:ELVT traded down $0.08 during mid-day trading on Friday, hitting $4.41. 35,056 shares of the company’s stock traded hands, compared to its average volume of 130,078. Elevate Credit Inc has a twelve month low of $3.71 and a twelve month high of $11.27. The firm has a market capitalization of $193.11 million, a P/E ratio of 11.31 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 1.10.
Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, April 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The company had revenue of $189.50 million for the quarter, compared to analyst estimates of $195.52 million. Elevate Credit had a return on equity of 18.02% and a net margin of 2.09%. The firm’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. On average, analysts expect that Elevate Credit Inc will post 0.6 EPS for the current year.
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Elevate Credit Company Profile
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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