Evine Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 initiated coverage on Evine Live in a research note on Monday, October 17th. They set a “buy” rating and a $3.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $2.88.

Evine Live (NASDAQ:EVLV) traded down 8.60% during mid-day trading on Wednesday, reaching $1.70. The company’s stock had a trading volume of 486,651 shares. Evine Live has a 12 month low of $0.41 and a 12 month high of $2.40. The stock’s 50 day moving average is $2.04 and its 200 day moving average is $1.82. The company’s market cap is $97.47 million.

Evine Live (NASDAQ:EVLV) last released its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.06) earnings per share (EPS) 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 company had revenue of $152 million for the quarter, compared to analyst estimates of $163.79 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts predict that Evine Live will post ($0.14) EPS for the current year.

In other Evine Live news, Director Landel C. Hobbs bought 45,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were bought at an average price of $2.21 per share, for a total transaction of $99,450.00. Following the completion of the acquisition, the director now owns 132,575 shares of the company’s stock, valued at $292,990.75. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Michael Arthur Henry bought 14,500 shares of the firm’s stock in a transaction dated Friday, October 14th. The shares were acquired at an average price of $2.14 per share, for a total transaction of $31,030.00. Following the acquisition, the chief marketing officer now directly owns 52,916 shares of the company’s stock, valued at approximately $113,240.24. The disclosure for this purchase can be found here. Insiders own 3.49% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Emerald Acquisition Ltd. purchased a new position in Evine Live during the second quarter valued at about $1,658,000. Teton Advisors Inc. boosted its position in Evine Live by 4.2% in the second quarter. Teton Advisors Inc. now owns 249,200 shares of the company’s stock valued at $411,000 after buying an additional 10,000 shares in 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 valued at $1,800,000 after buying an additional 174,053 shares in the last quarter. Laurion Capital Management LP purchased a new position in Evine Live during the second quarter valued at about $249,000. 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 valued at $2,642,000 after buying an additional 678,883 shares in the last quarter. Institutional investors own 40.15% of the company’s stock.

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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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