Zacks Investment Research upgraded shares of Elevate Credit, Inc. (NYSE:ELVT) from a sell rating to a hold rating in a research report report published on Tuesday morning.

According to Zacks, “Elevate Credit, Inc. offer online credit solutions to non-prime consumers. The Company offers online installment loans and lines of credits. Its products include credit building, financial wellness programs, credit reporting, free credit monitoring and online financial literacy videos and tools. Elevate Credit, Inc. is based in Forth Worth, United States. “

Several other research analysts also recently issued reports on the stock. Maxim Group began coverage on shares of Elevate Credit in a report on Wednesday, July 12th. They set a buy rating and a $10.00 price objective on the stock. BTIG Research began coverage on shares of Elevate Credit in a report on Thursday, July 6th. They set a buy rating and a $12.00 price objective on the stock. Finally, Stephens began coverage on shares of Elevate Credit in a report on Wednesday, August 23rd. They set an equal weight rating and a $8.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $10.64.

Shares of Elevate Credit (NYSE:ELVT) traded up 10.84% during mid-day trading on Tuesday, hitting $7.26. The stock had a trading volume of 251,999 shares. Elevate Credit has a 52 week low of $5.90 and a 52 week high of $9.48. The stock has a 50-day moving average price of $6.26 and a 200 day moving average price of $7.45. The stock’s market cap is $302.69 million.

Elevate Credit (NYSE:ELVT) last released its earnings results on Monday, July 31st. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.13. The firm had revenue of $150.50 million for the quarter, compared to analyst estimates of $157.38 million. Elevate Credit’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts forecast that Elevate Credit will post $0.35 EPS for the current fiscal year.

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In other Elevate Credit news, CFO Christopher Lutes bought 10,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average price of $7.00 per share, with a total value of $70,000.00. Following the completion of the purchase, the chief financial officer now directly owns 60,000 shares in the company, valued at approximately $420,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Large investors have recently added to or reduced their stakes in the business. BBR Partners LLC acquired a new position in Elevate Credit in the second quarter valued at about $317,000. Martingale Asset Management L P acquired a new position in Elevate Credit in the second quarter valued at about $377,000. Spark Investment Management LLC acquired a new position in Elevate Credit in the second quarter valued at about $262,000. Laurion Capital Management LP acquired a new position in Elevate Credit in the second quarter valued at about $238,000. Finally, Empyrean Capital Partners LP acquired a new position in Elevate Credit in the second quarter valued at about $20,322,000. Hedge funds and other institutional investors own 51.85% of the company’s stock.

Elevate Credit Company Profile

Elevate Credit, Inc provides online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700. The Company uses advanced technology risk analytics to provide financial options to its customers, who are not well-served by either banks or legacy non-prime lenders.

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Analyst Recommendations for Elevate Credit (NYSE:ELVT)

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