Elevate Credit Inc (NYSE:ELVT) Short Interest Update

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Elevate Credit Inc (NYSE:ELVT) was the target of a large growth in short interest in November. As of November 29th, there was short interest totalling 117,600 shares, a growth of 20.7% from the November 14th total of 97,400 shares. Based on an average daily volume of 96,800 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.5% of the shares of the stock are sold short.

Several equities research analysts have weighed in on ELVT shares. William Blair restated a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, November 5th. ValuEngine cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research raised shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research note on Friday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Elevate Credit has an average rating of “Hold” and an average target price of $6.10.

In other Elevate Credit news, Director Kenneth E. Rees sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $4.37, for a total value of $65,550.00. Also, major shareholder Scff Management Llc sold 14,383 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $4.07, for a total transaction of $58,538.81. The disclosure for this sale can be found here. Insiders have sold a total of 341,126 shares of company stock valued at $1,391,730 in the last quarter. 17.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ELVT. Wells Fargo & Company MN boosted its stake in Elevate Credit by 8.6% during the 2nd quarter. Wells Fargo & Company MN now owns 44,200 shares of the company’s stock worth $182,000 after acquiring an additional 3,507 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Elevate Credit by 54.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 47,712 shares of the company’s stock worth $198,000 after acquiring an additional 16,845 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Elevate Credit by 98.0% during the 2nd quarter. Acadian Asset Management LLC now owns 145,204 shares of the company’s stock worth $598,000 after acquiring an additional 71,873 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Elevate Credit during the 2nd quarter worth approximately $66,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Elevate Credit by 15.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 49,257 shares of the company’s stock worth $203,000 after acquiring an additional 6,484 shares during the last quarter. 48.14% of the stock is currently owned by institutional investors.

Shares of NYSE ELVT traded up $0.06 during mid-day trading on Friday, hitting $4.24. The company’s stock had a trading volume of 213,535 shares, compared to its average volume of 94,960. The stock has a market cap of $180.16 million, a price-to-earnings ratio of 10.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.12 and a quick ratio of 1.12. Elevate Credit has a one year low of $3.71 and a one year high of $5.21. The company’s fifty day simple moving average is $4.07 and its 200-day simple moving average is $4.30.

Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.10. The company had revenue of $192.80 million for the quarter, compared to analyst estimates of $193.34 million. Elevate Credit had a net margin of 3.65% and a return on equity of 20.93%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. On average, sell-side analysts predict that Elevate Credit will post 0.69 EPS for the current year.

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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