ValuEngine upgraded shares of Elevate Credit (NYSE:ELVT) from a sell rating to a hold rating in a research note released on Wednesday.
ELVT has been the subject of several other research reports. Zacks Investment Research raised shares of Elevate Credit from a hold rating to a buy rating and set a $11.00 price objective for the company in a research note on Tuesday, July 24th. William Blair reissued a market perform rating on shares of Elevate Credit in a research note on Tuesday. JMP Securities reissued a market perform rating on shares of Elevate Credit in a research note on Tuesday. Stephens set a $5.00 price objective on shares of Elevate Credit and gave the stock a hold rating in a research note on Tuesday. Finally, Credit Suisse Group decreased their price objective on shares of Elevate Credit from $10.50 to $8.00 and set an outperform rating for the company in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $10.00.
Elevate Credit stock traded up $0.04 during midday trading on Wednesday, hitting $4.30. 8,840 shares of the company’s stock were exchanged, compared to its average volume of 468,061. Elevate Credit has a 52-week low of $3.71 and a 52-week high of $11.27. The stock has a market cap of $168.45 million, a price-to-earnings ratio of 27.88 and a beta of 0.98.
Several institutional investors have recently bought and sold shares of ELVT. BlackRock Inc. lifted its position in shares of Elevate Credit by 27.4% during the 2nd quarter. BlackRock Inc. now owns 1,058,585 shares of the company’s stock valued at $8,956,000 after acquiring an additional 227,746 shares during the period. Osborn Williams & Donohoe LLC bought a new stake in Elevate Credit during the second quarter worth $1,785,000. Renaissance Technologies LLC bought a new stake in Elevate Credit during the second quarter worth $1,386,000. State Board of Administration of Florida Retirement System bought a new stake in Elevate Credit during the second quarter worth $1,350,000. Finally, Prescott Group Capital Management L.L.C. lifted its holdings in Elevate Credit by 18.1% during the second quarter. Prescott Group Capital Management L.L.C. now owns 616,979 shares of the company’s stock worth $5,220,000 after acquiring an additional 94,488 shares during the period. 45.98% 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 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Elevate Credit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevate Credit and related companies with MarketBeat.com's FREE daily email newsletter.