Elevate Credit (NYSE:ELVT) Lowered to “Hold” at Zacks Investment Research

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Elevate Credit (NYSE:ELVT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

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. “

Other research analysts have also issued research reports about the stock. William Blair reissued a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, November 5th. Stephens downgraded shares of Elevate Credit from an “equal weight” rating to an “underweight” rating in a report on Monday, January 6th. Finally, ValuEngine downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $5.25.

Elevate Credit stock traded down $0.01 on Friday, reaching $4.16. 204,651 shares of the stock were exchanged, compared to its average volume of 268,337. The stock has a market cap of $203.57 million, a PE ratio of 5.70 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.11. Elevate Credit has a twelve month low of $3.71 and a twelve month high of $5.98. The firm has a fifty day moving average price of $4.65 and a two-hundred day moving average price of $4.40.

Elevate Credit (NYSE:ELVT) last released its earnings results on Monday, February 10th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. The firm had revenue of $186.92 million during the quarter, compared to analyst estimates of $186.85 million. Elevate Credit had a net margin of 4.31% and a return on equity of 23.06%. Equities analysts anticipate that Elevate Credit will post 0.84 EPS for the current fiscal year.

In other news, Director Kenneth E. Rees sold 15,000 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $4.04, for a total transaction of $60,600.00. Following the transaction, the director now owns 471,342 shares in the company, valued at approximately $1,904,221.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Scff Management Llc sold 11,579 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $3.79, for a total transaction of $43,884.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 313,494 shares of company stock worth $1,323,806. Insiders own 17.00% of the company’s stock.

Several large investors have recently bought and sold shares of ELVT. Royce & Associates LP acquired a new position in Elevate Credit in the fourth quarter valued at about $60,000. Meeder Asset Management Inc. boosted its position in Elevate Credit by 938.7% in the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock valued at $57,000 after buying an additional 12,316 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Elevate Credit by 166.2% in the third quarter. Public Employees Retirement System of Ohio now owns 17,039 shares of the company’s stock valued at $72,000 after buying an additional 10,639 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Elevate Credit in the fourth quarter valued at about $76,000. Finally, Millennium Management LLC boosted its position in Elevate Credit by 57.8% in the third quarter. Millennium Management LLC now owns 18,483 shares of the company’s stock valued at $77,000 after buying an additional 6,769 shares in the last quarter. Institutional investors own 48.30% 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, 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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