Evine Live Inc. (EVLV) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Evine Live Inc. (NASDAQ:EVLV) issued its earnings results on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by $0.03. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. The business had revenue of $152 million for the quarter, compared to analyst estimates of $163.79 million. During the same period last year, the business posted ($0.09) EPS. Evine Live’s revenue was down 6.6% on a year-over-year basis.
Shares of Evine Live (NASDAQ:EVLV) opened at 2.13 on Tuesday. The stock’s market capitalization is $122.12 million. The company has a 50 day moving average price of $2.06 and a 200-day moving average price of $1.82. Evine Live has a 1-year low of $0.41 and a 1-year high of $2.40.
Several equities research analysts have recently weighed in on EVLV shares. Zacks Investment Research raised Evine Live from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a research report on Thursday, October 27th. B. Riley reissued a “buy” rating and set a $3.50 target price on shares of Evine Live in a research report on Monday. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $2.88.
In other news, CMO Michael Arthur Henry purchased 14,500 shares of the firm’s stock in a transaction on Friday, October 14th. The stock was purchased at an average cost of $2.14 per share, with a total value of $31,030.00. Following the purchase, the chief marketing officer now owns 52,916 shares in the company, valued at approximately $113,240.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Landel C. Hobbs purchased 45,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were purchased at an average cost of $2.21 per share, with a total value of $99,450.00. Following the completion of the purchase, the director now owns 132,575 shares in the company, valued at approximately $292,990.75. The disclosure for this purchase can be found here. Company insiders own 3.49% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Clinton Group Inc. raised its position in shares of Evine Live by 19.1% in the third quarter. Clinton Group Inc. now owns 1,907,642 shares of the company’s stock worth $4,369,000 after buying an additional 306,396 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Evine Live by 27.9% in the third quarter. Two Sigma Advisers LP now owns 48,200 shares of the company’s stock worth $110,000 after buying an additional 10,500 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Evine Live by 3,913.8% in the third quarter. JPMorgan Chase & Co. now owns 52,862 shares of the company’s stock worth $121,000 after buying an additional 51,545 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Evine Live during the third quarter worth about $298,000. Finally, Cove Street Capital LLC raised 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 worth $10,866,000 after buying an additional 1,270,256 shares during the last quarter. 40.15% of the stock is owned by hedge funds and other institutional investors.
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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