Evine Live Inc. (EVLV) Trading Up 2.7% on Insider Buying Activity
Evine Live Inc. (NASDAQ:EVLV) traded up 2.7% during mid-day trading on Wednesday following insider buying activity. The company traded as high as $2.29 and last traded at $2.25, with a volume of 99,064 shares changing hands. The stock had previously closed at $2.19.
Specifically, Director Landel C. Hobbs bought 45,000 shares of the stock in a transaction on Monday, September 19th. The shares were bought at an average cost of $2.21 per share, for a total transaction of $99,450.00. Following the completion of the transaction, the director now owns 132,575 shares of the company’s stock, valued at approximately $292,990.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.49% of the company’s stock.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Evine Live from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Maxim Group assumed coverage on shares of Evine Live in a research report on Thursday, June 9th. They set a “buy” rating and a $2.50 target price on the stock.
The firm’s market cap is $132.44 million. The company’s 50 day moving average is $1.85 and its 200-day moving average is $1.53.
Evine Live (NASDAQ:EVLV) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. The firm had revenue of $157 million for the quarter, compared to the consensus estimate of $166.31 million. Evine Live had a negative net margin of 1.64% and a negative return on equity of 9.79%. Evine Live’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) EPS. Equities research analysts predict that Evine Live Inc. will post ($0.14) EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of EVLV. Laurion Capital Management LP purchased a new stake in shares of Evine Live during the second quarter valued at $249,000. Envestnet Asset Management Inc. increased its stake in shares of Evine Live by 152.9% in the first quarter. Envestnet Asset Management Inc. now owns 157,615 shares of the company’s stock valued at $184,000 after buying an additional 95,294 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Evine Live by 133.1% in the first quarter. Goldman Sachs Group Inc. now owns 170,497 shares of the company’s stock valued at $199,000 after buying an additional 97,369 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of Evine Live during the second quarter valued at $295,000. Finally, Teton Advisors Inc. increased its stake in shares of Evine Live by 4.2% in the second quarter. Teton Advisors Inc. now owns 249,200 shares of the company’s stock valued at $411,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 44.36% of the company’s stock.
Evine Live Company Profile
EVINE Live Inc is a digital commerce company. The Company operates through the digital commerce retailing segment. The Company offers a mix of brands directly to consumers in an engaging and informative shopping experience through television (TV), online and mobile devices. It operates an around the clock television shopping network, EVINE Live, which is distributed primarily on cable and satellite systems, through which the Company offers brand products in the categories of jewelry and watches, home and consumer electronics, beauty, and fashion and accessories.
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