Northern Trust Corp Purchases New Position in Elevate Credit Inc (ELVT)
Northern Trust Corp purchased a new position in shares of Elevate Credit Inc (NYSE:ELVT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 149,568 shares of the company’s stock, valued at approximately $1,185,000. Northern Trust Corp owned approximately 0.39% of Elevate Credit at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in Elevate Credit in the second quarter valued at $117,000. New York State Common Retirement Fund acquired a new position in Elevate Credit in the second quarter valued at $122,000. Schwab Charles Investment Management Inc. acquired a new position in Elevate Credit in the second quarter valued at $194,000. Teachers Advisors LLC acquired a new position in Elevate Credit in the second quarter valued at $237,000. Finally, Laurion Capital Management LP acquired a new position in Elevate Credit in the second quarter valued at $238,000. Hedge funds and other institutional investors own 52.07% of the company’s stock.
Shares of Elevate Credit Inc (NYSE ELVT) traded down $0.10 during trading on Wednesday, hitting $7.36. 278,600 shares of the stock were exchanged, compared to its average volume of 178,971. Elevate Credit Inc has a twelve month low of $5.90 and a twelve month high of $9.48.
A number of research firms have commented on ELVT. BidaskClub upgraded shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 7th. Zacks Investment Research lowered shares of Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Stephens began coverage on shares of Elevate Credit in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $8.50 price objective on the stock. Credit Suisse Group dropped their price objective on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a research note on Thursday, November 16th. Finally, Maxim Group reiterated a “buy” rating and set a $10.00 price target on shares of Elevate Credit in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $10.57.
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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.
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