Evine Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “EVINE Live Inc. is a digital commerce company. It markets, sells, and distributes products to consumers through ShopHQ, a 24-hour television shopping network; and ShopHQ.com, an e-commerce platform, as well as through the company’s mobile application. The Company is focused on new products and brands in fashion, beauty, jewelry, home and fitness. EVINE Live Inc., formerly known as ValueVision Media, Inc., and is headquartered in Eden Prairie, Minnesota. “

Shares of Evine Live (NASDAQ:EVLV) opened at 2.02 on Monday. The stock’s 50 day moving average price is $2.04 and its 200 day moving average price is $1.66. The company’s market cap is $115.82 million. Evine Live has a 12-month low of $0.41 and a 12-month high of $3.17.

Evine Live (NASDAQ:EVLV) last released its quarterly earnings data on Wednesday, August 24th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. The business earned $157 million during the quarter, compared to analysts’ expectations of $166.31 million. During the same quarter last year, the business posted ($0.05) EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, analysts forecast that Evine Live will post ($0.14) EPS for the current year.

In other news, Director Landel C. Hobbs bought 45,000 shares of the stock in a transaction dated Monday, September 19th. The stock was bought at an average price of $2.21 per share, for a total transaction of $99,450.00. Following the purchase, the director now directly owns 132,575 shares in the company, valued at approximately $292,990.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.49% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EVLV. Laurion Capital Management LP purchased a new position in Evine Live during the second quarter worth approximately $249,000. Paloma Partners Management Co bought a new position in Evine Live during the second quarter worth $295,000. Teton Advisors Inc. raised its position in Evine Live by 4.2% in the second quarter. Teton Advisors Inc. now owns 249,200 shares of the company’s stock worth $411,000 after buying an additional 10,000 shares during the period. Diker Management LLC bought a new position in Evine Live during the second quarter worth $638,000. Finally, Renaissance Technologies LLC raised its position in Evine Live by 202.9% in the first quarter. Renaissance Technologies LLC now owns 880,156 shares of the company’s stock worth $1,030,000 after buying an additional 589,600 shares during the period. Institutional investors own 44.20% of the company’s stock.

About Evine Live

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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