Insider Selling: Elevate Credit Inc (ELVT) COO Sells 40,000 Shares of Stock

Elevate Credit Inc (NYSE:ELVT) COO Jason Harvison sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $4.36, for a total value of $174,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ELVT traded down $0.04 during midday trading on Friday, reaching $4.41. 201,407 shares of the company were exchanged, compared to its average volume of 133,023. Elevate Credit Inc has a one year low of $3.71 and a one year high of $11.27. The stock has a market cap of $193.38 million, a P/E ratio of 11.31 and a beta of 1.77.

Elevate Credit (NYSE:ELVT) last released its quarterly earnings results on Monday, February 11th. The company reported $0.09 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.09. The company had revenue of $207.29 million for the quarter, compared to analyst estimates of $212.42 million. Elevate Credit had a return on equity of 15.53% and a net margin of 1.59%. Equities analysts expect that Elevate Credit Inc will post 0.62 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Maxim Group reiterated a “buy” rating and issued a $10.00 price target on shares of Elevate Credit in a report on Tuesday, February 12th. Jefferies Financial Group cut Elevate Credit from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.50 to $5.00 in a report on Tuesday, January 8th. UBS Group cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a report on Friday, February 22nd. Finally, BTIG Research cut Elevate Credit from a “buy” rating to a “neutral” rating and set a $4.66 price target on the stock. in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $7.65.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Elevate Credit during the first quarter worth about $45,000. Geode Capital Management LLC raised its position in shares of Elevate Credit by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 173,812 shares of the company’s stock worth $778,000 after purchasing an additional 9,877 shares during the period. 683 Capital Management LLC acquired a new stake in shares of Elevate Credit during the fourth quarter worth about $4,683,000. Squarepoint Ops LLC raised its position in shares of Elevate Credit by 87.4% during the fourth quarter. Squarepoint Ops LLC now owns 42,172 shares of the company’s stock worth $189,000 after purchasing an additional 19,672 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Elevate Credit during the fourth quarter worth about $410,000. 48.18% of the stock is currently owned by institutional investors.

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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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Insider Buying and Selling by Quarter for Elevate Credit (NYSE:ELVT)

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