Evine Live Inc. (NASDAQ:EVLV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “EVINE Live Inc. is a digital commerce company. It markets, sells, and distributes products to consumers through ShopHQ, a 24-hour television shopping network; and ShopHQ.com, an e-commerce platform, as well as through the company’s mobile application. The Company is focused on new products and brands in fashion, beauty, jewelry, home and fitness. EVINE Live Inc., formerly known as ValueVision Media, Inc., and is headquartered in Eden Prairie, Minnesota. “
Separately, B. Riley began coverage on shares of Evine Live in a research report on Monday. They set a “buy” rating and a $3.50 price target on the stock. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $2.81.
Evine Live (NASDAQ:EVLV) traded up 1.46% on Wednesday, hitting $2.09. 66,763 shares of the company were exchanged. The stock’s market cap is $119.83 million. The firm has a 50 day moving average of $2.07 and a 200-day moving average of $1.70. Evine Live has a 52-week low of $0.41 and a 52-week high of $3.17.
Evine Live (NASDAQ:EVLV) last announced its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $157 million for the quarter, compared to analysts’ expectations of $166.31 million. Evine Live had a negative net margin of 1.64% and a negative return on equity of 9.79%. Evine Live’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, equities analysts expect that Evine Live will post ($0.14) earnings per share for the current fiscal year.
In other news, CMO Michael Arthur Henry bought 14,500 shares of Evine Live stock in a transaction dated Friday, October 14th. The shares were acquired at an average cost of $2.14 per share, with a total value of $31,030.00. Following the completion of the transaction, the chief marketing officer now owns 52,916 shares in the company, valued at approximately $113,240.24. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Landel C. Hobbs bought 45,000 shares of Evine Live stock in a transaction dated Monday, September 19th. The shares were purchased at an average cost of $2.21 per share, for a total transaction of $99,450.00. Following the completion of the transaction, the director now owns 132,575 shares of the company’s stock, valued at approximately $292,990.75. The disclosure for this purchase can be found here. Insiders own 3.49% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cove Street Capital LLC boosted its position in Evine Live by 23.9% in the second quarter. Cove Street Capital LLC now owns 6,585,260 shares of the company’s stock worth $10,866,000 after buying an additional 1,270,256 shares during the last quarter. Elk Creek Partners LLC boosted its position in Evine Live by 8.8% in the second quarter. Elk Creek Partners LLC now owns 2,150,309 shares of the company’s stock worth $3,548,000 after buying an additional 174,053 shares during the last quarter. Paloma Partners Management Co purchased a new position in Evine Live during the second quarter worth approximately $295,000. Diker Management LLC purchased a new position in Evine Live during the second quarter worth approximately $638,000. Finally, Clinton Group Inc. boosted its position in Evine Live by 73.6% in the second quarter. Clinton Group Inc. now owns 1,601,246 shares of the company’s stock worth $2,642,000 after buying an additional 678,883 shares during the last quarter. 44.20% of the stock is currently owned by institutional investors and hedge funds.
Evine Live Company Profile
EVINE Live Inc is a digital commerce company. The Company operates through the digital commerce retailing segment. The Company offers a mix of brands directly to consumers in an engaging and informative shopping experience through television (TV), online and mobile devices. It operates an around the clock television shopping network, EVINE Live, which is distributed primarily on cable and satellite systems, through which the Company offers brand products in the categories of jewelry and watches, home and consumer electronics, beauty, and fashion and accessories.
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