Insider Selling: Elevate Credit Inc (NYSE:ELVT) Major Shareholder Sells $39,447.45 in Stock

Elevate Credit Inc (NYSE:ELVT) major shareholder Scff Management Llc sold 26,835 shares of Elevate Credit stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $1.47, for a total value of $39,447.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Scff Management Llc also recently made the following trade(s):

  • On Monday, March 23rd, Scff Management Llc sold 60,800 shares of Elevate Credit stock. The stock was sold at an average price of $1.10, for a total value of $66,880.00.
  • On Friday, March 20th, Scff Management Llc sold 42,700 shares of Elevate Credit stock. The stock was sold at an average price of $1.36, for a total value of $58,072.00.
  • On Monday, March 16th, Scff Management Llc sold 10,500 shares of Elevate Credit stock. The stock was sold at an average price of $2.22, for a total value of $23,310.00.
  • On Friday, March 13th, Scff Management Llc sold 15,677 shares of Elevate Credit stock. The stock was sold at an average price of $2.54, for a total value of $39,819.58.
  • On Wednesday, March 11th, Scff Management Llc sold 28,017 shares of Elevate Credit stock. The stock was sold at an average price of $2.59, for a total value of $72,564.03.
  • On Monday, March 9th, Scff Management Llc sold 16,625 shares of Elevate Credit stock. The stock was sold at an average price of $2.81, for a total value of $46,716.25.
  • On Friday, March 6th, Scff Management Llc sold 34,588 shares of Elevate Credit stock. The stock was sold at an average price of $2.94, for a total value of $101,688.72.
  • On Wednesday, March 4th, Scff Management Llc sold 49,657 shares of Elevate Credit stock. The stock was sold at an average price of $3.25, for a total value of $161,385.25.
  • On Monday, March 2nd, Scff Management Llc sold 20,880 shares of Elevate Credit stock. The stock was sold at an average price of $3.44, for a total value of $71,827.20.
  • On Monday, February 24th, Scff Management Llc sold 35,459 shares of Elevate Credit stock. The stock was sold at an average price of $3.74, for a total value of $132,616.66.

Shares of ELVT opened at $1.22 on Thursday. The firm has a market cap of $55.93 million, a PE ratio of 1.67 and a beta of 1.83. The stock’s fifty day moving average price is $3.15 and its two-hundred day moving average price is $4.05. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.14 and a quick ratio of 1.14. Elevate Credit Inc has a 1 year low of $0.98 and a 1 year high of $5.98.

Elevate Credit (NYSE:ELVT) last issued its earnings results on Monday, February 10th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.02. The firm had revenue of $186.92 million for the quarter, compared to analyst estimates of $186.85 million. Elevate Credit had a return on equity of 22.38% and a net margin of 4.31%. Sell-side analysts anticipate that Elevate Credit Inc will post 0.85 earnings per share for the current fiscal year.

ELVT has been the topic of several research analyst reports. ValuEngine cut Elevate Credit from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 3rd. Zacks Investment Research raised Elevate Credit from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research report on Tuesday. Finally, Stephens cut Elevate Credit from an “equal weight” rating to an “underweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $3.63.

Several institutional investors and hedge funds have recently modified their holdings of the business. Requisite Capital Management LLC raised its stake in shares of Elevate Credit by 100.0% in the fourth quarter. Requisite Capital Management LLC now owns 4,531,566 shares of the company’s stock valued at $20,165,000 after buying an additional 2,265,783 shares during the period. Renaissance Technologies LLC raised its stake in shares of Elevate Credit by 8.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,245,616 shares of the company’s stock valued at $5,543,000 after buying an additional 93,829 shares during the period. State Street Corp raised its stake in shares of Elevate Credit by 1.3% in the fourth quarter. State Street Corp now owns 299,120 shares of the company’s stock valued at $1,331,000 after buying an additional 3,756 shares during the period. Geode Capital Management LLC raised its stake in shares of Elevate Credit by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 272,475 shares of the company’s stock valued at $1,211,000 after buying an additional 27,977 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Elevate Credit by 22.3% in the fourth quarter. Acadian Asset Management LLC now owns 241,699 shares of the company’s stock valued at $1,076,000 after buying an additional 44,080 shares during the period. Hedge funds and other institutional investors own 40.27% of the company’s stock.

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.

Further Reading: What is a Swap?

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

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