Elevate Credit (ELVT) Releases Earnings Results

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Elevate Credit (NYSE:ELVT) posted its quarterly earnings results on Monday. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09, Bloomberg Earnings reports. Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%. Elevate Credit updated its FY 2019 guidance to $0.55-0.65 EPS.

Shares of ELVT opened at $4.38 on Tuesday. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $11.27. The firm has a market capitalization of $188.77 million, a P/E ratio of 27.38 and a beta of 1.81.

A number of equities analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of Elevate Credit in a report on Tuesday, October 30th. ValuEngine upgraded Elevate Credit from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. Credit Suisse Group cut their target price on Elevate Credit from $10.50 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, October 30th. Finally, William Blair reiterated a “market perform” rating on shares of Elevate Credit in a report on Tuesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.29.

In other news, Director John C. Dean bought 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average cost of $4.52 per share, for a total transaction of $149,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 32.00% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osborn Williams & Donohoe LLC raised its position in Elevate Credit by 23.7% in the 3rd quarter. Osborn Williams & Donohoe LLC now owns 261,000 shares of the company’s stock valued at $2,104,000 after buying an additional 50,000 shares during the last quarter. First Trust Advisors LP purchased a new stake in Elevate Credit in the 3rd quarter valued at $222,000. JPMorgan Chase & Co. raised its position in Elevate Credit by 3,030.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 128,280 shares of the company’s stock valued at $1,033,000 after buying an additional 124,182 shares during the last quarter. Wells Fargo & Company MN raised its position in Elevate Credit by 33.3% in the 3rd quarter. Wells Fargo & Company MN now owns 101,362 shares of the company’s stock valued at $817,000 after buying an additional 25,337 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Elevate Credit by 43.7% in the 3rd quarter. Acadian Asset Management LLC now owns 138,849 shares of the company’s stock valued at $1,120,000 after buying an additional 42,193 shares during the last quarter. 42.70% of the stock is owned by institutional investors and hedge funds.

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About Elevate Credit

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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.

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Earnings History for Elevate Credit (NYSE:ELVT)

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