Zacks Investment Research upgraded shares of Elevate Credit (NYSE:ELVT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $4.75 target price on the stock.

According to Zacks, “Elevate Credit, Inc. offer online credit solutions to non-prime consumers. The Company offers online installment loans and lines of credits. Its products include credit building, financial wellness programs, credit reporting, free credit monitoring and online financial literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “

A number of other research firms have also issued reports on ELVT. BTIG Research reaffirmed a buy rating and issued a $6.00 target price on shares of Elevate Credit in a report on Tuesday, July 16th. ValuEngine raised Elevate Credit from a sell rating to a hold rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $6.25.

ELVT opened at $4.10 on Thursday. The firm has a market capitalization of $184.04 million, a P/E ratio of 10.51 and a beta of 1.34. The stock’s 50 day moving average price is $4.30 and its two-hundred day moving average price is $4.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.12. Elevate Credit has a 12-month low of $3.71 and a 12-month high of $6.89.

Elevate Credit (NYSE:ELVT) last released its earnings results on Monday, July 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.06. The firm had revenue of $177.76 million for the quarter, compared to analyst estimates of $187.48 million. Elevate Credit had a return on equity of 19.19% and a net margin of 2.45%. The company’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. As a group, analysts anticipate that Elevate Credit will post 0.6 earnings per share for the current year.

In other news, Director Kenneth E. Rees sold 15,000 shares of Elevate Credit stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $4.95, for a total transaction of $74,250.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Scff Management Llc sold 40,702 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $4.27, for a total value of $173,797.54. The disclosure for this sale can be found here. Insiders have sold a total of 188,228 shares of company stock worth $813,741 in the last three months. 17.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its position in shares of Elevate Credit by 98.0% during the 2nd quarter. Acadian Asset Management LLC now owns 145,204 shares of the company’s stock worth $598,000 after buying an additional 71,873 shares during the period. Wells Fargo & Company MN raised its position in Elevate Credit by 8.6% in the 2nd quarter. Wells Fargo & Company MN now owns 44,200 shares of the company’s stock valued at $182,000 after purchasing an additional 3,507 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Elevate Credit by 15.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 49,257 shares of the company’s stock valued at $203,000 after purchasing an additional 6,484 shares during the last quarter. Renaissance Technologies LLC raised its position in Elevate Credit by 30.9% in the 2nd quarter. Renaissance Technologies LLC now owns 799,847 shares of the company’s stock valued at $3,295,000 after purchasing an additional 188,747 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Elevate Credit in the 2nd quarter valued at $62,000. Institutional investors and hedge funds own 47.95% of the company’s stock.

About Elevate Credit

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States and the United Kingdom. The company offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; Sunny, an installment loan product; and Today Card, a credit card product.

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