The Vanguard Group, Inc. recently announced the acquisition of new stake in Elevate Credit Inc. (NYSE:ELVT). The institutional investor has increased its shareholding in the Financial company by 10.46% to 1.3 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 4.15% valued currently at $2.27 million. In addition, Bridgeway Capital Management LLC raised its holdings by 73900.0 to 0.98 million shares. And Aviance Capital Partners LLC has lifted its position by 27.99% or 96284.0 shares – to 0.44 million shares.
With over 0.13 million Elevate Credit Inc. (ELVT) shares trading Friday and a closing price of $1.81 on the day, the dollar volume was approximately $0.24 million. Currently, there are 31.07M common shares owned by the public and among those 27.14M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for ELVT have a consensus price objective of $2.50. The analysts have set the share’s price value over the next 12 months at a high of $2.50 and a low of $2.50. The average price target is 27.6% above its recent price level and an upside to the estimated low will see the stock gain 27.6% over that period. But an upside of 27.6% will see the stock hit the forecast high price target while median target price for the stock is $2.50.
Insiders at the company have transacted a total of 58 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 37 of these insider trades were purchases, accounting for 922,868 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 248,344 shares.
The top 3 mutual fund holders in Elevate Credit Inc. are Vanguard Total Stock Market Index, Bridgeway Ultra Small Company Fun, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.96 million shares of the company’s stock, all valued at over $1.68 million. Bridgeway Ultra Small Company Fun bought 44900.0 shares to see its total holdings expand to 0.61 million shares valued at over $1.06 million and representing 1.94% of the shares outstanding. Vanguard Extended Market Index Fu now owns shares totaling to 1.00% of the shares outstanding.
Shares of Elevate Credit Inc. (NYSE: ELVT) opened at $1.80, down -$0.01 from a prior closing price of $1.81. The company’s stock has a 5-day price change of 1.69% and 69.16% over the past three months. ELVT shares are trading 3.43% year to date (YTD), with the 12-month market performance down to -40.26% lower. It has a 12-month low price of $0.67 and touched a high of $3.95 over the same period. ELVT has an average intraday trading volume of 260.76K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.09%, 13.21%, and -8.42% respectively.
Institutional ownership of Elevate Credit Inc. (NYSE: ELVT) shares accounts for 32.10% of the company’s 31.07M shares outstanding. Mutual fund holders own 20.54%, while other institutional holders and individual stakeholders account for 72.00% and 11.45% respectively.
It has a market capitalization of $56.60M and a beta (3y monthly) value of 2.09. The earnings-per-share (ttm) stands at -$2.13. The company has a debt-to-equity ratio at 3.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.39% over the week and 1.35% over the month.
Analysts forecast that Elevate Credit Inc. (ELVT) will achieve an EPS of -$0.3 for the current quarter, -$0.25 for the next quarter and $0.27 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.38 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.33 a year ago. Earnings per share for the fiscal year are expected to decrease by -213.10%, and 130.90% over the next financial year. EPS should grow at an annualized rate of -1.22% over the next five years, compared to -8.80% over the past 5-year period.
Jefferies on their part issued Hold rating on January 08, 2019.
