Jason Harvison Sells 8,476 Shares of Elevate Credit (ELVT) Stock

Elevate Credit (NYSE:ELVT) COO Jason Harvison sold 8,476 shares of the stock in a transaction dated Monday, April 9th. The stock was sold at an average price of $7.50, for a total value of $63,570.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shares of NYSE ELVT opened at $7.38 on Thursday. Elevate Credit has a 1-year low of $5.90 and a 1-year high of $9.48. The stock has a market cap of $313.11 and a price-to-earnings ratio of 46.75.

Elevate Credit (NYSE:ELVT) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.14). Elevate Credit had a positive return on equity of 6.84% and a negative net margin of 1.03%. The company had revenue of $193.44 million for the quarter, compared to analysts’ expectations of $194.10 million. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. equities analysts expect that Elevate Credit will post 0.73 earnings per share for the current year.



Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in shares of Elevate Credit in the 4th quarter valued at about $102,000. Jane Street Group LLC purchased a new position in shares of Elevate Credit in the 4th quarter valued at about $113,000. Wells Fargo & Company MN increased its holdings in shares of Elevate Credit by 1,839.5% in the 4th quarter. Wells Fargo & Company MN now owns 19,473 shares of the company’s stock valued at $147,000 after acquiring an additional 18,469 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of Elevate Credit in the 2nd quarter valued at about $202,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Elevate Credit in the 4th quarter valued at about $260,000. Institutional investors and hedge funds own 42.25% of the company’s stock.

Several research firms recently issued reports on ELVT. Zacks Investment Research lowered Elevate Credit from a “hold” rating to a “strong sell” rating in a research note on Wednesday. BTIG Research downgraded Elevate Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. UBS began coverage on Elevate Credit in a report on Tuesday, March 27th. They set a “buy” rating and a $10.50 price target on the stock. Finally, Maxim Group cut their price target on Elevate Credit from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Elevate Credit presently has an average rating of “Hold” and an average price target of $10.18.

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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 and lines of credit. Its products include Rise installment loan and line of credit products; Elastic, a line of credit product; and Sunny installment loan products.

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