Prescott Group Capital Management L.L.C. Has $8.40 Million Position in Elevate Credit Inc (ELVT)

Prescott Group Capital Management L.L.C. raised its holdings in Elevate Credit Inc (NYSE:ELVT) by 68.9% in the third quarter, HoldingsChannel.com reports. The fund owned 1,042,094 shares of the company’s stock after acquiring an additional 425,115 shares during the period. Elevate Credit accounts for about 1.6% of Prescott Group Capital Management L.L.C.’s portfolio, making the stock its 12th biggest position. Prescott Group Capital Management L.L.C.’s holdings in Elevate Credit were worth $8,399,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in Elevate Credit by 23.2% in the third quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock valued at $10,516,000 after acquiring an additional 246,120 shares during the period. Osborn Williams & Donohoe LLC grew its stake in Elevate Credit by 23.7% in the third quarter. Osborn Williams & Donohoe LLC now owns 261,000 shares of the company’s stock valued at $2,104,000 after acquiring an additional 50,000 shares during the period. Northern Trust Corp grew its stake in Elevate Credit by 21.7% in the second quarter. Northern Trust Corp now owns 206,189 shares of the company’s stock valued at $1,745,000 after acquiring an additional 36,821 shares during the period. Renaissance Technologies LLC acquired a new position in Elevate Credit in the second quarter valued at about $1,386,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Elevate Credit in the second quarter valued at about $1,350,000. 49.59% of the stock is owned by hedge funds and other institutional investors.

ELVT stock opened at $4.52 on Friday. The stock has a market cap of $195.25 million, a PE ratio of 28.25 and a beta of 3.14. 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 posted its quarterly earnings data on Monday, October 29th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.23). The firm had revenue of $201.48 million for the quarter, compared to analyst estimates of $201.71 million. Elevate Credit had a positive return on equity of 12.69% and a negative net margin of 0.49%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. Research analysts anticipate that Elevate Credit Inc will post 0.41 EPS for the current fiscal year.

A number of research analysts have issued reports on the company. ValuEngine cut Elevate Credit from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. Stephens set a $9.00 target price on Elevate Credit and gave the company a “hold” rating in a research note on Tuesday, July 31st. Credit Suisse Group decreased their target price on Elevate Credit from $10.50 to $8.00 and set an “outperform” rating for the company in a research note on Tuesday, October 30th. Zacks Investment Research cut Elevate Credit from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. Finally, JMP Securities reissued a “market perform” rating on shares of Elevate Credit in a research note on Tuesday, October 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.00.

In other news, Director Tyler W. K. Head sold 356,494 shares of the company’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $4.36, for a total transaction of $1,554,313.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley R. Strock acquired 15,000 shares of Elevate Credit stock in a transaction dated Wednesday, November 7th. The shares were purchased at an average cost of $4.43 per share, with a total value of $66,450.00. The disclosure for this purchase can be found here. Insiders have sold 917,644 shares of company stock valued at $3,732,103 over the last ninety days. 32.00% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Elevate Credit (NYSE:ELVT)

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