Elevate Credit Inc (NYSE:ELVT) was the target of a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 117,600 shares, an increase of 20.7% from the November 14th total of 97,400 shares. Based on an average daily trading volume, of 96,800 shares, the short-interest ratio is currently 1.2 days. Currently, 0.5% of the company’s stock are short sold.

A number of research firms have commented on ELVT. Zacks Investment Research raised shares of Elevate Credit from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Friday, December 6th. William Blair reaffirmed a “market perform” rating on shares of Elevate Credit in a research report on Tuesday, November 5th. Finally, ValuEngine cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Elevate Credit has a consensus rating of “Hold” and a consensus price target of $6.10.

Shares of Elevate Credit stock traded up $0.06 during trading on Friday, reaching $4.24. The company’s stock had a trading volume of 213,535 shares, compared to its average volume of 94,960. The business’s 50-day moving average price is $4.07 and its 200-day moving average price is $4.30. The firm has a market cap of $180.16 million, a PE ratio of 10.87 and a beta of 1.33. Elevate Credit has a 52 week low of $3.71 and a 52 week high of $5.21. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.11.

Elevate Credit (NYSE:ELVT) last announced its earnings results on Monday, November 4th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.10. The company had revenue of $192.80 million during the quarter, compared to analysts’ expectations of $193.34 million. Elevate Credit had a net margin of 3.65% and a return on equity of 20.93%. Elevate Credit’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Equities analysts predict that Elevate Credit will post 0.69 earnings per share for the current year.

In other Elevate Credit news, Director Kenneth E. Rees sold 15,000 shares of Elevate Credit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $4.04, for a total transaction of $60,600.00. Following the completion of the transaction, the director now directly owns 471,342 shares of the company’s stock, valued at $1,904,221.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Scff Management Llc sold 11,579 shares of Elevate Credit stock in a transaction on Monday, November 18th. The stock was sold at an average price of $3.79, for a total transaction of $43,884.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 341,126 shares of company stock worth $1,391,730. 17.00% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in ELVT. Meeder Asset Management Inc. lifted its position in Elevate Credit by 938.7% during the third quarter. Meeder Asset Management Inc. now owns 13,628 shares of the company’s stock worth $57,000 after purchasing an additional 12,316 shares during the period. Acadian Asset Management LLC lifted its position in Elevate Credit by 98.0% during the second quarter. Acadian Asset Management LLC now owns 145,204 shares of the company’s stock worth $598,000 after purchasing an additional 71,873 shares during the period. BlackRock Inc. lifted its position in Elevate Credit by 21.4% during the second quarter. BlackRock Inc. now owns 1,570,427 shares of the company’s stock worth $6,470,000 after purchasing an additional 276,717 shares during the period. Mackay Shields LLC lifted its position in Elevate Credit by 29.6% during the third quarter. Mackay Shields LLC now owns 141,727 shares of the company’s stock worth $596,000 after purchasing an additional 32,400 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in Elevate Credit by 46.1% during the second quarter. Parametric Portfolio Associates LLC now owns 20,027 shares of the company’s stock worth $83,000 after purchasing an additional 6,323 shares during the period. 48.14% of the stock is owned by institutional investors.

Elevate Credit Company Profile

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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