Sei Investments Co. Purchases 59,171 Shares of Envela Corporation $ELA

Key Points

• Sei Investments doubled its Envela position in the first quarter, purchasing 59,171 additional shares to hold 118,342 shares worth approximately $1.97 million, or 0.46% of the company.
• Analyst sentiment remains positive overall, with two Buy ratings and one Hold rating. Envela has a “Moderate Buy” consensus and an average price target of $25, although B. Riley lowered its target to $23.
• Envela exceeded quarterly earnings expectations, reporting $0.16 in EPS versus the $0.14 estimate, while revenue reached $56.77 million in line with forecasts.

Sei Investments Co. raised its position in Envela Corporation (NYSEAMERICAN:ELA - Free Report) by 100.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,342 shares of the company's stock after buying an additional 59,171 shares during the period. Sei Investments Co. owned 0.46% of Envela worth $1,972,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG boosted its stake in shares of Envela by 471.0% in the 4th quarter. Deutsche Bank AG now owns 6,252 shares of the company's stock worth $84,000 after buying an additional 5,157 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Envela by 78.1% during the fourth quarter. Wells Fargo & Company MN now owns 7,275 shares of the company's stock worth $97,000 after acquiring an additional 3,191 shares during the period. Baader Bank Aktiengesellschaft bought a new stake in Envela during the fourth quarter worth $134,000. NewEdge Advisors LLC boosted its position in Envela by 1,015.6% in the first quarter. NewEdge Advisors LLC now owns 10,989 shares of the company's stock worth $68,000 after purchasing an additional 10,004 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in Envela in the fourth quarter worth $157,000. Institutional investors own 8.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ELA shares. B. Riley Financial decreased their target price on Envela from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday. Zacks Research downgraded shares of Envela from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 28th. Finally, Lake Street Capital restated a "buy" rating and set a $27.00 price target on shares of Envela in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.00.

Envela Price Performance

Envela stock opened at $17.18 on Monday. Envela Corporation has a 12 month low of $5.94 and a 12 month high of $29.68. The company has a current ratio of 4.24, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03. The business's 50 day simple moving average is $23.83 and its 200 day simple moving average is $19.26. The company has a market cap of $445.99 million, a price-to-earnings ratio of 19.98 and a beta of 0.41.

Envela (NYSEAMERICAN:ELA - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. The business had revenue of $56.77 million during the quarter, compared to the consensus estimate of $56.77 million. Envela had a return on equity of 31.49% and a net margin of 7.63%. Sell-side analysts forecast that Envela Corporation will post 0.8 EPS for the current year.

About Envela

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.

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