ValuEngine downgraded shares of Elevate Credit (NYSE:ELVT) from a sell rating to a strong sell rating in a research report released on Saturday morning, ValuEngine reports.

ELVT has been the topic of a number of other reports. Credit Suisse Group dropped their target price on Elevate Credit from $4.75 to $4.00 and set an outperform rating on the stock in a research report on Thursday, May 7th. Zacks Investment Research cut Elevate Credit from a hold rating to a sell rating in a research report on Wednesday, June 24th. UBS Group dropped their target price on Elevate Credit from $5.50 to $2.00 and set a neutral rating on the stock in a research report on Monday, May 11th. Finally, Maxim Group restated a hold rating on shares of Elevate Credit in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $3.31.

NYSE ELVT opened at $1.58 on Friday. The stock has a 50-day simple moving average of $1.95 and a two-hundred day simple moving average of $2.89. The firm has a market capitalization of $70.29 million, a P/E ratio of 4.94 and a beta of 3.29. Elevate Credit has a fifty-two week low of $0.89 and a fifty-two week high of $5.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.15 and a current ratio of 1.15.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.17. The business had revenue of $177.46 million during the quarter, compared to analyst estimates of $186.29 million. Elevate Credit had a return on equity of 17.92% and a net margin of 1.89%. As a group, analysts forecast that Elevate Credit will post 0.67 earnings per share for the current year.

In related news, major shareholder Scff Management Llc sold 180,668 shares of Elevate Credit stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $1.47, for a total value of $265,581.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders sold 289,382 shares of company stock worth $407,463. 18.00% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Requisite Capital Management LLC boosted its holdings in Elevate Credit by 100.0% in the 4th quarter. Requisite Capital Management LLC now owns 4,531,566 shares of the company’s stock worth $20,165,000 after buying an additional 2,265,783 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Elevate Credit by 8.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,245,616 shares of the company’s stock worth $5,543,000 after purchasing an additional 93,829 shares during the last quarter. Osborn Williams & Donohoe LLC boosted its holdings in shares of Elevate Credit by 52.3% during the 1st quarter. Osborn Williams & Donohoe LLC now owns 555,860 shares of the company’s stock worth $578,000 after purchasing an additional 190,860 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Elevate Credit by 87.0% during the 1st quarter. Acadian Asset Management LLC now owns 451,947 shares of the company’s stock worth $471,000 after purchasing an additional 210,248 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Elevate Credit by 17.5% during the 1st quarter. Geode Capital Management LLC now owns 320,106 shares of the company’s stock worth $332,000 after purchasing an additional 47,631 shares during the last quarter. Institutional investors own 34.18% 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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Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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