Evine Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

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. “

Evine Live (NASDAQ:EVLV) remained flat at $2.09 during midday trading on Monday. 223,621 shares of the company’s stock were exchanged. The firm’s market cap is $119.83 million. Evine Live has a 1-year low of $0.41 and a 1-year high of $3.17. The stock has a 50-day moving average price of $2.02 and a 200 day moving average price of $1.64.

Evine Live (NASDAQ:EVLV) last issued its quarterly earnings results on Wednesday, August 24th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The company had revenue of $157 million for the quarter, compared to the consensus estimate of $166.31 million. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. On average, analysts predict that Evine Live will post ($0.14) EPS for the current fiscal year.

In other Evine Live news, Director Landel C. Hobbs purchased 45,000 shares of the company’s stock in a transaction on Monday, September 19th. The shares were bought at an average cost of $2.21 per share, with a total value of $99,450.00. Following the transaction, the director now directly owns 132,575 shares in the company, valued at approximately $292,990.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.49% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of EVLV. Cove Street Capital LLC increased its position in shares of Evine Live by 23.9% in the second quarter. Cove Street Capital LLC now owns 6,585,260 shares of the company’s stock valued at $10,866,000 after buying an additional 1,270,256 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in Evine Live during the second quarter worth about $1,658,000. Clinton Group Inc. boosted its stake 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 in the last quarter. Renaissance Technologies LLC boosted its stake in Evine Live by 202.9% in the first quarter. Renaissance Technologies LLC now owns 880,156 shares of the company’s stock worth $1,030,000 after buying an additional 589,600 shares in the last quarter. Finally, Diker Management LLC purchased a new stake in Evine Live during the second quarter worth about $638,000. 44.20% of the stock is currently owned by institutional investors.

About Evine Live

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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