Analysts forecast that Elevate Credit Inc (NYSE:ELVT) will post sales of $186.29 million for the current quarter, Zacks reports. Two analysts have issued estimates for Elevate Credit’s earnings. The highest sales estimate is $188.07 million and the lowest is $184.50 million. Elevate Credit posted sales of $189.50 million during the same quarter last year, which suggests a negative year-over-year growth rate of 1.7%. The business is expected to report its next quarterly earnings report on Monday, May 4th.
According to Zacks, analysts expect that Elevate Credit will report full-year sales of $762.57 million for the current financial year, with estimates ranging from $761.80 million to $763.34 million. For the next financial year, analysts anticipate that the business will post sales of $800.90 million, with estimates ranging from $783.79 million to $818.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Elevate Credit.
Elevate Credit (NYSE:ELVT) last released its quarterly earnings data on Monday, February 10th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Elevate Credit had a net margin of 4.31% and a return on equity of 22.38%. The firm had revenue of $186.92 million for the quarter, compared to analyst estimates of $186.85 million.
NYSE:ELVT traded up $0.06 during trading hours on Wednesday, reaching $0.99. 282,363 shares of the company’s stock were exchanged, compared to its average volume of 331,354. The company has a market capitalization of $39.95 million, a P/E ratio of 1.36 and a beta of 2.64. Elevate Credit has a 12 month low of $0.89 and a 12 month high of $5.98. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $2.62 and its two-hundred day simple moving average is $3.92.
In other news, major shareholder Scgf Iii Management Llc sold 56,693 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $0.98, for a total transaction of $55,559.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Scff Management Llc sold 63,286 shares of Elevate Credit stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $4.43, for a total transaction of $280,356.98. The disclosure for this sale can be found here. Insiders sold a total of 773,334 shares of company stock worth $2,140,769 over the last quarter. 17.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Requisite Capital Management LLC lifted its holdings in Elevate Credit by 100.0% during the 4th quarter. Requisite Capital Management LLC now owns 4,531,566 shares of the company’s stock valued at $20,165,000 after purchasing an additional 2,265,783 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Elevate Credit by 8.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,245,616 shares of the company’s stock worth $5,543,000 after buying an additional 93,829 shares during the period. State Street Corp grew its position in shares of Elevate Credit by 1.3% during the 4th quarter. State Street Corp now owns 299,120 shares of the company’s stock worth $1,331,000 after buying an additional 3,756 shares during the period. Geode Capital Management LLC grew its position in shares of Elevate Credit by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 272,475 shares of the company’s stock worth $1,211,000 after buying an additional 27,977 shares during the period. Finally, Acadian Asset Management LLC grew its position in shares of Elevate Credit by 22.3% during the 4th quarter. Acadian Asset Management LLC now owns 241,699 shares of the company’s stock worth $1,076,000 after buying an additional 44,080 shares during the period. 40.27% of the stock is owned by hedge funds and other institutional investors.
About Elevate Credit
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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