Elevate Credit Inc (NYSE:ELVT) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 182,300 shares, a decrease of 46.3% from the May 30th total of 339,700 shares. Based on an average daily trading volume, of 115,700 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.0% of the company’s stock are short sold.

ELVT remained flat at $$4.25 during midday trading on Friday. 134,937 shares of the company’s stock traded hands, compared to its average volume of 109,084. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $184.45 million, a price-to-earnings ratio of 10.90 and a beta of 1.40. The firm’s 50 day moving average is $4.27. Elevate Credit has a 1-year low of $3.71 and a 1-year high of $10.77.

Elevate Credit (NYSE:ELVT) last posted its earnings results on Monday, April 29th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.13. The business had revenue of $189.50 million for the quarter, compared to analysts’ expectations of $195.52 million. Elevate Credit had a net margin of 2.09% and a return on equity of 18.02%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, research analysts forecast that Elevate Credit will post 0.6 earnings per share for the current fiscal year.

Several brokerages recently commented on ELVT. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.06.

In related news, major shareholder Scff Management Llc sold 57,592 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $4.35, for a total transaction of $250,525.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sequoia Capital Growth Fund Ii sold 52,615 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $4.21, for a total transaction of $221,509.15. The disclosure for this sale can be found here. Insiders sold a total of 517,064 shares of company stock worth $2,224,471 over the last ninety days. Insiders own 17.00% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its holdings in Elevate Credit by 55.1% during the 4th quarter. Rhumbline Advisers now owns 26,497 shares of the company’s stock worth $119,000 after acquiring an additional 9,408 shares during the period. First Trust Advisors LP grew its holdings in Elevate Credit by 18.7% during the 4th quarter. First Trust Advisors LP now owns 32,701 shares of the company’s stock worth $147,000 after acquiring an additional 5,148 shares during the period. Stephens Inc. AR grew its holdings in Elevate Credit by 72.2% during the 4th quarter. Stephens Inc. AR now owns 31,000 shares of the company’s stock worth $139,000 after acquiring an additional 13,000 shares during the period. Bank of New York Mellon Corp grew its holdings in Elevate Credit by 80.2% during the 4th quarter. Bank of New York Mellon Corp now owns 100,229 shares of the company’s stock worth $449,000 after acquiring an additional 44,609 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Elevate Credit by 6.0% during the 4th quarter. Geode Capital Management LLC now owns 173,812 shares of the company’s stock worth $778,000 after acquiring an additional 9,877 shares during the period. Institutional investors and hedge funds own 50.58% of the company’s stock.

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, 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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