Elevate Credit, Inc. (NYSE:ELVT) Brief Interest Update
Elevate Credit, Inc. (NYSE: ELVT – Get a rating) was the target of a sharp drop in short interest during the month of March. As of March 31, there was short interest totaling 637,900 shares, down 23.5% from the March 15 total of 834,100 shares. About 2.6% of the stock’s shares are sold short. Based on an average trading volume of 218,800 shares, the short-term interest rate ratio is currently 2.9 days.
NYSE ELVT was down $0.05 during Monday trading hours, hitting $2.98. 100 shares of the stock traded in hands, compared to its average volume of 216,868. The company has a 50-day moving average price of $3.19. Elevate Credit has a 1-year minimum of $2.54 and a 1-year maximum of $4.26. The company has a market capitalization of $93.07 million, a P/E ratio of -2.79 and a beta of 2.16.
Increase credit (NYSE: ELVT – Get a rating) last reported quarterly earnings data on Tuesday, February 15. The company reported ($0.42) earnings per share (EPS) for the quarter. The company posted revenue of $129.53 million for the quarter. Elevate Credit had a negative net margin of 8.06% and a negative return on equity of 9.44%. In the same quarter a year earlier, the company earned $0.23 per share.
In other news, COO Scott Greever sold 15,000 shares of the company in a transaction dated Friday, March 25. The stock was sold at an average price of $3.07, for a total value of $46,050.00. The sale was disclosed in a filing with the SEC, accessible via this link. Insiders sold a total of 24,000 shares of the company worth $74,430 in the past 90 days. 13.00% of the shares are currently held by insiders.
Hedge funds and other institutional investors have recently been buying and selling stocks. Stokes Family Office LLC purchased a new equity stake in Elevate Credit in the third quarter worth approximately $48,000. Royal Bank of Canada bought a new stake in shares of Elevate Credit in the third quarter for a value of approximately $48,000. Two Sigma Securities LLC purchased a new stake in shares of Elevate Credit in the third quarter worth approximately $49,000. Walleye Capital LLC purchased a new stake in shares of Elevate Credit in the fourth quarter worth approximately $39,000. Finally, Jump Financial LLC purchased a new stake in shares of Elevate Credit in the third quarter worth approximately $154,000. 47.22% of the shares are currently held by institutional investors.
Separately, Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a Wednesday, January 5, report.
Elevate Credit Company Profile (Get a rating)
Elevate Credit, Inc provides online credit solutions to unprivileged consumers in the United States. The company offers online unsecured installment loans, lines of credit and credit cards. Its products include Rise, an installment loan product; Elastic, a credit line product; and Today Card, a credit card product.
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