Elevate Credit, Inc. (NYSE:ELVT) Short Interest Update

Elevate Credit, Inc. (NYSE:ELVT) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 2,050,000 shares, a growth of 127.0% from the September 15th total of 903,100 shares. Currently, 9.3% of the company’s stock are sold short. Based on an average daily trading volume, of 323,500 shares, the short-interest ratio is presently 6.3 days.

Elevate Credit stock traded up $0.05 during trading on Thursday, hitting $3.74. The stock had a trading volume of 117 shares, compared to its average volume of 507,140. The stock has a market cap of $125.66 million, a price-to-earnings ratio of 4.19 and a beta of 2.52. The stock’s 50 day moving average is $3.62 and its two-hundred day moving average is $3.53. Elevate Credit has a 1 year low of $2.34 and a 1 year high of $4.90.

Elevate Credit (NYSE:ELVT) last released its earnings results on Tuesday, August 3rd. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.06). The firm had revenue of $84.54 million during the quarter, compared to the consensus estimate of $88.97 million. Elevate Credit had a net margin of 7.41% and a return on equity of 21.81%. On average, sell-side analysts predict that Elevate Credit will post -0.08 EPS for the current fiscal year.

In related news, CEO Jason Harvison sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $3.51, for a total value of $52,650.00. Following the completion of the sale, the chief executive officer now directly owns 418,734 shares of the company’s stock, valued at approximately $1,469,756.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 29,000 shares of company stock valued at $105,740 over the last ninety days. 13.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELVT. Eubel Brady & Suttman Asset Management Inc. purchased a new stake in Elevate Credit during the first quarter valued at about $48,000. Ameriprise Financial Inc. boosted its position in Elevate Credit by 46.8% during the first quarter. Ameriprise Financial Inc. now owns 16,890 shares of the company’s stock valued at $49,000 after buying an additional 5,386 shares during the period. Jane Street Group LLC purchased a new stake in Elevate Credit during the first quarter valued at about $121,000. Public Employees Retirement System of Ohio boosted its position in Elevate Credit by 240.1% during the first quarter. Public Employees Retirement System of Ohio now owns 43,173 shares of the company’s stock valued at $126,000 after buying an additional 30,477 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Elevate Credit during the second quarter valued at about $131,000. 37.78% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a research note on Wednesday, October 6th.

Elevate Credit Company Profile

Elevate Credit, Inc engages in provision of online financial services for subprime credit consumers. It offers online credit solutions to consumers in the U.S. and the United Kingdom who are not well-served by traditional bank products and who are looking for options than payday loans, title loans, pawn, and storefront installment loans.

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