Mink Brook Asset Management LLC Purchases Shares of 1,142,769 Envela Co. (NYSEAMERICAN:ELA)

Mink Brook Asset Management LLC acquired a new stake in shares of Envela Co. (NYSEAMERICAN:ELA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,142,769 shares of the company's stock, valued at approximately $8,205,000. Envela accounts for about 7.9% of Mink Brook Asset Management LLC's portfolio, making the stock its 6th largest holding. Mink Brook Asset Management LLC owned about 4.40% of Envela as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Millennium Management LLC raised its position in shares of Envela by 4.2% during the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company's stock valued at $401,000 after buying an additional 2,253 shares in the last quarter. Barclays PLC raised its position in shares of Envela by 113.7% during the 3rd quarter. Barclays PLC now owns 5,025 shares of the company's stock valued at $28,000 after buying an additional 2,674 shares in the last quarter. Jane Street Group LLC raised its position in shares of Envela by 72.8% during the 4th quarter. Jane Street Group LLC now owns 30,343 shares of the company's stock valued at $218,000 after buying an additional 12,783 shares in the last quarter. Northern Trust Corp raised its position in shares of Envela by 67.1% during the 4th quarter. Northern Trust Corp now owns 49,320 shares of the company's stock valued at $354,000 after buying an additional 19,799 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Envela by 217.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 38,839 shares of the company's stock valued at $279,000 after buying an additional 26,598 shares in the last quarter. Hedge funds and other institutional investors own 8.15% of the company's stock.

Analyst Ratings Changes

Separately, Lake Street Capital increased their price objective on shares of Envela from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th.

Envela Stock Performance

Shares of Envela stock traded up $0.16 on Friday, reaching $6.48. The company had a trading volume of 18,327 shares, compared to its average volume of 24,009. The business has a 50 day simple moving average of $6.20. The stock has a market cap of $168.48 million, a price-to-earnings ratio of 27.00 and a beta of 0.35. Envela Co. has a 52-week low of $4.20 and a 52-week high of $7.88. The company has a current ratio of 4.76, a quick ratio of 2.08 and a debt-to-equity ratio of 0.25.

Envela Company Profile

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.