Elevate Credit, Inc. (ELVT) Receives Average Rating of “Buy” from Brokerages
Shares of Elevate Credit, Inc. (NYSE:ELVT) have been assigned a consensus recommendation of “Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.64.
ELVT has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Elevate Credit in a research report on Thursday, July 6th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Investment Research downgraded shares of Elevate Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Stephens started coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They set an “equal weight” rating and a $8.50 target price on the stock. Maxim Group started coverage on shares of Elevate Credit in a research note on Wednesday, July 12th. They set a “buy” rating and a $10.00 target price on the stock. Finally, BidaskClub raised shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th.
ILLEGAL ACTIVITY WARNING: “Elevate Credit, Inc. (ELVT) Receives Average Rating of “Buy” from Brokerages” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The legal version of this article can be read at https://www.thecerbatgem.com/2017/10/19/elevate-credit-inc-elvt-receives-average-rating-of-buy-from-brokerages.html.
In related news, CFO Christopher Lutes bought 10,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $7.00 per share, with a total value of $70,000.00. Following the purchase, the chief financial officer now owns 60,000 shares in the company, valued at $420,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors have recently added to or reduced their stakes in ELVT. Empyrean Capital Partners LP acquired a new position in Elevate Credit during the 2nd quarter valued at about $20,322,000. Vanguard Group Inc. acquired a new position in shares of Elevate Credit in the 2nd quarter worth approximately $1,806,000. Northern Trust Corp acquired a new position in shares of Elevate Credit in the 2nd quarter worth approximately $1,185,000. State Street Corp acquired a new position in shares of Elevate Credit in the 2nd quarter worth approximately $1,176,000. Finally, TIAA CREF Investment Management LLC acquired a new position in shares of Elevate Credit in the 2nd quarter worth approximately $533,000. 51.85% of the stock is currently owned by hedge funds and other institutional investors.
Elevate Credit (NYSE ELVT) traded up 0.27% during midday trading on Friday, hitting $7.53. 100,930 shares of the stock traded hands. The company’s market cap is $313.95 million. Elevate Credit has a one year low of $5.90 and a one year high of $9.48. The company’s 50-day moving average is $6.51 and its 200-day moving average is $7.44.
Elevate Credit (NYSE:ELVT) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.13. The firm had revenue of $150.50 million during the quarter, compared to the consensus estimate of $157.38 million. The company’s revenue was up 18.7% on a year-over-year basis. Equities research analysts expect that Elevate Credit will post $0.34 EPS for the current fiscal year.
Elevate Credit Company Profile
Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.
Receive News & Stock Ratings for Elevate Credit Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit Inc. and related stocks with our FREE daily email newsletter.