Elevate Credit (NYSE:ELVT) Downgraded by ValuEngine to Strong Sell

ValuEngine lowered shares of Elevate Credit (NYSE:ELVT) from a sell rating to a strong sell rating in a report released on Saturday, ValuEngine reports.

ELVT has been the subject of several other research reports. Credit Suisse Group decreased their price objective on shares of Elevate Credit from $4.75 to $4.00 and set an outperform rating for the company in a research note on Thursday, May 7th. Maxim Group reaffirmed a hold rating on shares of Elevate Credit in a report on Tuesday, May 12th. Zacks Investment Research cut shares of Elevate Credit from a hold rating to a sell rating in a report on Wednesday, June 24th. Finally, UBS Group reduced their target price on shares of Elevate Credit from $5.50 to $2.00 and set a neutral rating for the company in a report on Monday, May 11th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $3.31.

NYSE ELVT opened at $1.58 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.15 and a quick ratio of 1.15. Elevate Credit has a 1 year low of $0.89 and a 1 year high of $5.98. The company has a market capitalization of $70.29 million, a PE ratio of 4.94 and a beta of 3.29. The company has a fifty day moving average of $1.95 and a two-hundred day moving average of $2.89.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Elevate Credit had a net margin of 1.89% and a return on equity of 17.92%. The company had revenue of $177.46 million during the quarter, compared to the consensus estimate of $186.29 million. On average, research analysts expect that Elevate Credit will post 0.67 earnings per share for the current year.

In related news, major shareholder Scff Management Llc sold 180,668 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $1.47, for a total transaction of $265,581.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 289,382 shares of company stock valued at $407,463 over the last ninety days. Corporate insiders own 18.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Requisite Capital Management LLC raised its holdings in Elevate Credit by 100.0% during the fourth quarter. Requisite Capital Management LLC now owns 4,531,566 shares of the company’s stock worth $20,165,000 after purchasing an additional 2,265,783 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Elevate Credit by 8.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,245,616 shares of the company’s stock worth $5,543,000 after purchasing an additional 93,829 shares in the last quarter. Osborn Williams & Donohoe LLC raised its holdings in Elevate Credit by 52.3% during the first quarter. Osborn Williams & Donohoe LLC now owns 555,860 shares of the company’s stock worth $578,000 after purchasing an additional 190,860 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Elevate Credit by 87.0% during the first quarter. Acadian Asset Management LLC now owns 451,947 shares of the company’s stock worth $471,000 after purchasing an additional 210,248 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Elevate Credit by 17.5% during the first quarter. Geode Capital Management LLC now owns 320,106 shares of the company’s stock worth $332,000 after purchasing an additional 47,631 shares in the last quarter. 34.18% of the stock is owned by hedge funds and other institutional investors.

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, 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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Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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