Elevate Credit Inc (NYSE:ELVT) – Equities researchers at William Blair reduced their Q3 2019 EPS estimates for shares of Elevate Credit in a research report issued on Tuesday, October 30th. William Blair analyst R. Napoli now anticipates that the company will earn $0.09 per share for the quarter, down from their prior forecast of $0.17. William Blair currently has a “Market Perform” rating on the stock.
Elevate Credit (NYSE:ELVT) last announced its quarterly earnings results on Monday, October 29th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.23). Elevate Credit had a negative net margin of 0.49% and a positive return on equity of 12.82%. The company had revenue of $201.48 million for the quarter, compared to analysts’ expectations of $201.71 million. During the same quarter in the prior year, the firm earned $0.01 EPS. Elevate Credit’s quarterly revenue was up 16.6% compared to the same quarter last year.
Shares of NYSE ELVT opened at $4.26 on Thursday. Elevate Credit has a 1 year low of $3.71 and a 1 year high of $11.27. The stock has a market cap of $168.45 million, a P/E ratio of 26.63 and a beta of 0.98.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Elevate Credit by 27.4% in the second quarter. BlackRock Inc. now owns 1,058,585 shares of the company’s stock worth $8,956,000 after buying an additional 227,746 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new position in shares of Elevate Credit in the second quarter worth approximately $1,785,000. Renaissance Technologies LLC bought a new position in shares of Elevate Credit in the second quarter worth approximately $1,386,000. State Board of Administration of Florida Retirement System bought a new position in shares of Elevate Credit in the second quarter worth approximately $1,350,000. Finally, Prescott Group Capital Management L.L.C. lifted its stake in shares of Elevate Credit by 18.1% in 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 buying an additional 94,488 shares in the last quarter. Institutional investors and hedge funds own 45.98% of the company’s stock.
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.
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