Elevate Credit (NYSE:ELVT) was upgraded by Zacks Investment Research from a "sell" rating to a "hold" rating in a research report issued on Wednesday, Zacks.com reports.
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. "
Separately, TheStreet cut shares of Elevate Credit from a "c-" rating to a "d" rating in a research report on Thursday, November 4th.
NYSE ELVT opened at $3.07 on Wednesday. Elevate Credit has a one year low of $2.54 and a one year high of $4.90. The company has a fifty day simple moving average of $3.26. The firm has a market capitalization of $99.99 million, a price-to-earnings ratio of -17.05 and a beta of 2.33.
Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Tuesday, November 2nd. The company reported ($0.28) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.24) by ($0.04). Elevate Credit had a positive return on equity of 5.82% and a negative net margin of 1.45%. The company had revenue of $112.84 million for the quarter, compared to analyst estimates of $93.96 million. During the same period last year, the company earned $0.42 earnings per share. As a group, analysts expect that Elevate Credit will post -0.45 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of ELVT. Stokes Family Office LLC purchased a new position in Elevate Credit in the 3rd quarter worth about $48,000. Royal Bank of Canada acquired a new stake in shares of Elevate Credit during the 3rd quarter valued at about $48,000. Two Sigma Securities LLC acquired a new stake in Elevate Credit in the third quarter valued at approximately $49,000. Ritholtz Wealth Management bought a new stake in Elevate Credit in the third quarter worth $62,000. Finally, Marshall Wace LLP bought a new stake in shares of Elevate Credit during the 2nd quarter worth about $131,000. Institutional investors and hedge funds own 37.07% of the company's stock.
About Elevate Credit
Elevate Credit, Inc engages in provision of online financial services for subprime credit consumers. It offers online credit solutions to consumers in the U.S. and the United Kingdom who are not well-served by traditional bank products and who are looking for options than payday loans, title loans, pawn, and storefront installment loans.
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