Elevate Credit, Inc. (NYSE:ELVT)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $6.03 and last traded at $6.08, with a volume of 419,434 shares trading hands. The stock had previously closed at $6.47.

Several equities analysts have recently weighed in on ELVT shares. Stifel Nicolaus started coverage on Elevate Credit in a research report on Monday, May 1st. They issued a “buy” rating and a $12.00 price target for the company. William Blair started coverage on Elevate Credit in a research report on Monday, May 1st. They issued an “outperform” rating for the company. Jefferies Group LLC started coverage on Elevate Credit in a research report on Tuesday, May 2nd. They issued a “buy” rating and a $12.00 price target for the company. Credit Suisse Group started coverage on Elevate Credit in a research report on Tuesday, May 2nd. They issued an “outperform” rating and a $11.00 price target for the company. Finally, BTIG Research started coverage on Elevate Credit in a research report on Thursday, July 6th. They issued a “buy” rating and a $12.00 price target for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Elevate Credit has a consensus rating of “Buy” and an average target price of $10.64.

The company has a 50-day moving average of $7.90 and a 200-day moving average of $7.87. The firm’s market capitalization is $257.66 million.

Elevate Credit (NYSE:ELVT) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.13. The firm had revenue of $150.50 million during the quarter, compared to analyst estimates of $157.38 million. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Elevate Credit, Inc. will post $0.35 EPS for the current year.

In related news, CFO Christopher Lutes purchased 10,000 shares of Elevate Credit stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average price of $7.06 per share, for a total transaction of $70,600.00. Following the transaction, the chief financial officer now directly owns 50,000 shares in the company, valued at $353,000. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Henry W. Ramsey purchased 9,500 shares of Elevate Credit stock in a transaction that occurred on Friday, June 2nd. The shares were bought at an average price of $7.17 per share, with a total value of $68,115.00. Following the transaction, the insider now owns 9,500 shares in the company, valued at $68,115. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 31,500 shares of company stock valued at $224,795.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC bought a new position in Elevate Credit during the second quarter valued at $262,000. Citadel Advisors LLC bought a new position in Elevate Credit during the second quarter valued at $163,000. BBR Partners LLC bought a new position in Elevate Credit during the second quarter valued at $317,000. Vanguard Group Inc. bought a new position in Elevate Credit during the second quarter valued at $1,806,000. Finally, Northern Trust Corp bought a new position in Elevate Credit during the second quarter valued at $1,185,000. Hedge funds and other institutional investors own 0.33% of the company’s stock.

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About Elevate Credit

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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