Elevate Credit Inc (NYSE:ELVT) – Investment analysts at Jefferies Financial Group reduced their Q1 2019 earnings estimates for shares of Elevate Credit in a research report issued to clients and investors on Tuesday, October 30th, according to Zacks Investment Research. Jefferies Financial Group analyst J. Hecht now forecasts that the company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.36. Jefferies Financial Group also issued estimates for Elevate Credit’s Q2 2019 earnings at $0.19 EPS and Q3 2019 earnings at $0.13 EPS.
Elevate Credit (NYSE:ELVT) last issued its quarterly earnings data on Monday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.23). The company had revenue of $201.48 million for the quarter, compared to analysts’ expectations of $201.71 million. Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS.
Several other research firms have also recently weighed in on ELVT. William Blair reaffirmed a “market perform” rating on shares of Elevate Credit in a report on Tuesday, October 30th. ValuEngine raised Elevate Credit from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Elevate Credit in a report on Tuesday, October 30th. Stephens set a $5.00 price target on Elevate Credit and gave the company a “hold” rating in a report on Tuesday, October 30th. Finally, Zacks Investment Research cut Elevate Credit from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $10.00.
ELVT traded up $0.11 during trading on Wednesday, reaching $4.52. 123,001 shares of the company were exchanged, compared to its average volume of 614,702. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $11.27. The stock has a market capitalization of $190.50 million, a price-to-earnings ratio of 28.25 and a beta of 3.14.
In other news, Director Bradley R. Strock acquired 15,000 shares of Elevate Credit stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average cost of $4.43 per share, for a total transaction of $66,450.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Tyler W. K. Head sold 558,650 shares of the stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $3.86, for a total value of $2,156,389.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 917,644 shares of company stock worth $3,732,103. Insiders own 32.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in ELVT. Renaissance Technologies LLC increased its position in shares of Elevate Credit by 323.3% during the 3rd quarter. Renaissance Technologies LLC now owns 693,438 shares of the company’s stock valued at $5,589,000 after purchasing an additional 529,638 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its position in Elevate Credit by 68.9% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,042,094 shares of the company’s stock worth $8,399,000 after acquiring an additional 425,115 shares during the last quarter. BlackRock Inc. grew its position in Elevate Credit by 23.2% during the 3rd quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock worth $10,516,000 after acquiring an additional 246,120 shares during the last quarter. Mackenzie Financial Corp bought a new position in Elevate Credit during the 3rd quarter worth approximately $1,841,000. Finally, Osborn Williams & Donohoe LLC bought a new position in Elevate Credit during the 2nd quarter worth approximately $1,785,000. Hedge funds and other institutional investors own 49.59% of the company’s stock.
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 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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