Insider Selling: Elevate Credit Inc (NYSE:ELVT) Major Shareholder Sells 42,181 Shares of Stock

Elevate Credit Inc (NYSE:ELVT) major shareholder Sequoia Capital Growth Fund Ii sold 42,181 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $4.28, for a total value of $180,534.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Sequoia Capital Growth Fund Ii also recently made the following trade(s):

  • On Monday, June 24th, Sequoia Capital Growth Fund Ii sold 32,800 shares of Elevate Credit stock. The shares were sold at an average price of $4.39, for a total value of $143,992.00.
  • On Tuesday, June 11th, Sequoia Capital Growth Fund Ii sold 39,065 shares of Elevate Credit stock. The shares were sold at an average price of $4.29, for a total value of $167,588.85.
  • On Monday, June 3rd, Sequoia Capital Growth Fund Ii sold 43,380 shares of Elevate Credit stock. The shares were sold at an average price of $4.20, for a total value of $182,196.00.

NYSE:ELVT traded up $0.02 on Monday, hitting $4.14. 63,400 shares of the stock were exchanged, compared to its average volume of 130,053. The stock has a market capitalization of $178.79 million, a PE ratio of 10.62 and a beta of 1.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.10 and a current ratio of 1.10. The business has a fifty day moving average of $4.41. Elevate Credit Inc has a fifty-two week low of $3.71 and a fifty-two week high of $11.27.

Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The company had revenue of $189.50 million during the quarter, compared to analyst estimates of $195.52 million. Elevate Credit had a return on equity of 18.02% and a net margin of 2.09%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. Research analysts expect that Elevate Credit Inc will post 0.6 EPS for the current year.

ELVT has been the subject of several analyst reports. Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. ValuEngine lowered Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $7.65.

Several hedge funds and other institutional investors have recently modified their holdings of ELVT. Assenagon Asset Management S.A. purchased a new stake in shares of Elevate Credit in the first quarter worth about $45,000. Rhumbline Advisers boosted its holdings in Elevate Credit by 55.1% in the fourth quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock valued at $119,000 after purchasing an additional 9,408 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new position in Elevate Credit in the fourth quarter valued at about $127,000. Bank of America Corp DE boosted its holdings in Elevate Credit by 270.2% in the fourth quarter. Bank of America Corp DE now owns 30,765 shares of the company’s stock valued at $138,000 after purchasing an additional 22,455 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Elevate Credit by 72.2% in the fourth quarter. Stephens Inc. AR now owns 31,000 shares of the company’s stock valued at $139,000 after purchasing an additional 13,000 shares during the last quarter. 50.58% of the stock is owned by institutional investors.

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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