Elevate Credit (NYSE: ELVT) raised to “hold” at Zacks Investment Research
According to Zacks, “Elevate Credit, Inc. provides online credit solutions to unprivileged consumers. The company offers installment loans and lines of credit online. Its products include credit building, financial wellness programs, credit reports, free credit monitoring, and online financial services. literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “
Separately, TheStreet reduced shares of Elevate Credit from a “c-” rating to a “d” rating in a research report released on Thursday, November 4.
NYSE ELVT opened at $ 3.07 on Wednesday. Elevate Credit has a one-year minimum of $ 2.54 and a one-year maximum of $ 4.90. The company has a fifty-day simple moving average of $ 3.26. The company has a market cap of $ 99.99 million, a price-to-earnings ratio of -17.05 and a beta of 2.33.
Elevate Credit (NYSE: ELVT) last released its quarterly results on Tuesday, November 2. The company reported ($ 0.28) earnings per share for the quarter, missing Zacks’ consensus estimate of ($ 0.24) by ($ 0.04). Elevate Credit recorded a positive return on equity of 5.82% and a negative net margin of 1.45%. The company posted revenue of $ 112.84 million for the quarter, compared to analysts’ estimates of $ 93.96 million. During the same period last year, the company made a profit of $ 0.42 per share. As a group, analysts expect Elevate Credit to post -0.45 EPS for the current fiscal year.
Several hedge funds and other institutional investors recently changed their holdings to ELVT. Stokes Family Office LLC purchased a new position in Elevate Credit in the third quarter valued at approximately $ 48,000. Royal Bank of Canada acquired a new equity interest in Elevate Credit during the 3rd quarter valued at approximately $ 48,000. Two Sigma Securities LLC acquired a new stake in Elevate Credit in the third quarter valued at approximately $ 49,000. Ritholtz Wealth Management purchased a new stake in Elevate Credit in the third quarter valued at $ 62,000. Finally, Marshall Wace LLP purchased a new stake in the shares of Elevate Credit during the second quarter for a value of approximately $ 131,000. Institutional investors and hedge funds hold 37.07% of the company’s shares.
About Elevate Credit
Elevate Credit, Inc. is committed to providing online financial services to consumers of subprime credit. It offers online credit solutions to consumers in the US and UK who are not well served by traditional banking products and are looking for options other than payday loans, title loans, pledges and installment loans in the window.
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