Elevate Credit Inc (ELVT) Stake Raised by Citadel Advisors LLC
Citadel Advisors LLC grew its position in shares of Elevate Credit Inc (NYSE:ELVT) by 286.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,688 shares of the company’s stock after buying an additional 59,055 shares during the quarter. Citadel Advisors LLC owned 0.19% of Elevate Credit worth $487,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Empyrean Capital Partners LP purchased a new stake in Elevate Credit in the second quarter worth approximately $20,322,000. Vanguard Group Inc. purchased a new stake in Elevate Credit in the second quarter worth approximately $1,806,000. Northern Trust Corp purchased a new stake in Elevate Credit in the second quarter worth approximately $1,185,000. State Street Corp purchased a new stake in Elevate Credit in the second quarter worth approximately $1,176,000. Finally, TIAA CREF Investment Management LLC purchased a new stake in Elevate Credit in the second quarter worth approximately $533,000. Hedge funds and other institutional investors own 52.07% of the company’s stock.
Several equities research analysts recently issued reports on the stock. JMP Securities assumed coverage on shares of Elevate Credit in a report on Tuesday. They issued an “outperform” rating and a $10.00 target price on the stock. BidaskClub upgraded shares of Elevate Credit from a “strong sell” rating to a “sell” rating in a report on Saturday, October 7th. Zacks Investment Research cut shares of Elevate Credit from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Stephens assumed coverage on shares of Elevate Credit in a report on Wednesday, August 23rd. They issued an “equal weight” rating and a $8.50 target price on the stock. Finally, Credit Suisse Group dropped their target price on shares of Elevate Credit from $11.00 to $10.50 and set an “outperform” rating on the stock in a report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Elevate Credit presently has an average rating of “Buy” and a consensus price target of $10.50.
Elevate Credit (NYSE:ELVT) last issued its quarterly earnings results on Monday, October 30th. The company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. The business had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $175.00 million. Elevate Credit had a net margin of 0.13% and a return on equity of 1.40%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the company posted ($1.25) EPS. sell-side analysts predict that Elevate Credit Inc will post 0.27 earnings per share for the current year.
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Elevate Credit 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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