Envela Corporation $ELA Stock Holdings Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Envela Corporation (NYSEAMERICAN:ELA) by 59.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 86,453 shares of the company’s stock after acquiring an additional 32,119 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Envela were worth $1,441,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ELA. Millennium Management LLC boosted its stake in Envela by 58.9% in the 3rd quarter. Millennium Management LLC now owns 34,026 shares of the company’s stock worth $266,000 after purchasing an additional 12,614 shares during the period. Citadel Advisors LLC raised its stake in Envela by 69.8% during the 3rd quarter. Citadel Advisors LLC now owns 19,113 shares of the company’s stock valued at $149,000 after purchasing an additional 7,860 shares during the period. Bank of America Corp DE lifted its holdings in shares of Envela by 10.5% in the third quarter. Bank of America Corp DE now owns 48,507 shares of the company’s stock valued at $379,000 after purchasing an additional 4,601 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Envela by 16.4% in the third quarter. Bridgeway Capital Management LLC now owns 106,700 shares of the company’s stock valued at $833,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Envela by 107.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 80,669 shares of the company’s stock worth $630,000 after buying an additional 41,830 shares during the period. Institutional investors and hedge funds own 8.15% of the company’s stock.

Envela Stock Performance

ELA opened at $16.03 on Friday. The firm has a market capitalization of $416.14 million, a P/E ratio of 18.64 and a beta of 0.41. The stock’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $19.31. The company has a quick ratio of 2.61, a current ratio of 4.24 and a debt-to-equity ratio of 0.03. Envela Corporation has a 12-month low of $6.71 and a 12-month high of $29.68.

Envela (NYSEAMERICAN:ELA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Envela had a return on equity of 31.49% and a net margin of 7.63%.The company had revenue of $56.77 million during the quarter, compared to analyst estimates of $56.77 million. On average, equities analysts forecast that Envela Corporation will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELA shares. Lake Street Capital reissued a “buy” rating and set a $27.00 target price on shares of Envela in a research note on Thursday, May 7th. Zacks Research lowered Envela from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 28th. Finally, B. Riley Financial cut their price objective on Envela from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Envela Company Profile

Envela Corporation is a technology-enabled asset recovery and monetization company that specializes in the acquisition, refurbishment and resale of pre-owned consumer electronics and jewelry, as well as the manufacture and distribution of industrial diamonds. Through its integrated platform, the company sources assets from individuals, retailers and corporate clients, employing proprietary software and physical channel operations to optimize value recovery across multiple product categories.

Originally founded as American Jewelry Liquidators, the business rebranded as Envela in 2018 to reflect its broader strategic focus beyond jewelry.