According to Zacks, “Elevate Credit, Inc. offer online credit solutions to non-prime consumers. The Company offers online installment loans and lines of credits. Its products include credit building, financial wellness programs, credit reporting, free credit monitoring and online financial literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “
A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Elevate Credit from a buy rating to a hold rating and decreased their target price for the company from $9.50 to $5.00 in a research note on Tuesday, January 8th. UBS Group lowered shares of Elevate Credit from a buy rating to a neutral rating and set a $5.00 target price for the company. in a research note on Friday, February 22nd. BTIG Research lowered shares of Elevate Credit from a buy rating to a neutral rating and set a $4.66 target price for the company. in a research note on Thursday, February 14th. Finally, Maxim Group reiterated a buy rating and set a $10.00 target price on shares of Elevate Credit in a research note on Tuesday, February 12th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Elevate Credit presently has an average rating of Hold and a consensus target price of $7.65.
Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $207.29 million during the quarter, compared to analyst estimates of $212.42 million. Elevate Credit had a net margin of 1.59% and a return on equity of 15.53%. As a group, equities research analysts predict that Elevate Credit will post 0.56 earnings per share for the current year.
In other news, CEO Kenneth E. Rees sold 15,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $4.44, for a total value of $66,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jason Harvison sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $4.36, for a total value of $174,400.00. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Prescott Group Capital Management L.L.C. increased its stake in shares of Elevate Credit by 72.9% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 1,801,576 shares of the company’s stock worth $8,071,000 after purchasing an additional 759,482 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Elevate Credit by 256.8% in the 4th quarter. Nantahala Capital Management LLC now owns 1,582,364 shares of the company’s stock worth $7,089,000 after buying an additional 1,138,873 shares during the period. BlackRock Inc. boosted its holdings in Elevate Credit by 23.2% in the 3rd quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock worth $10,516,000 after buying an additional 246,120 shares during the period. 683 Capital Management LLC bought a new position in Elevate Credit in the 4th quarter worth $4,683,000. Finally, Vanguard Group Inc boosted its holdings in Elevate Credit by 12.4% in the 3rd quarter. Vanguard Group Inc now owns 990,375 shares of the company’s stock worth $7,983,000 after buying an additional 109,257 shares during the period. Hedge funds and other institutional investors own 48.18% 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, 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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