Elevate Credit, Inc. (NYSE:ELVT – Get Rating) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 663,200 shares, a growth of 9.3% from the August 15th total of 607,000 shares. Based on an average daily trading volume, of 94,700 shares, the short-interest ratio is presently 7.0 days. Approximately 2.7% of the company's shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Credit Suisse Group cut their price target on shares of Elevate Credit from $4.00 to $3.50 and set an "outperform" rating on the stock in a report on Wednesday, August 10th.

Elevate Credit Stock Down 0.8 %

Shares of ELVT traded down $0.01 during mid-day trading on Monday, reaching $1.20. 125,878 shares of the stock traded hands, compared to its average volume of 151,920. The firm has a market cap of $37.26 million, a price-to-earnings ratio of -0.61 and a beta of 1.97. The stock has a fifty day simple moving average of $1.87 and a 200 day simple moving average of $2.44. Elevate Credit has a 12-month low of $1.18 and a 12-month high of $4.27.

Institutional Trading of Elevate Credit

A number of hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in shares of Elevate Credit by 3.2% during the second quarter. Renaissance Technologies LLC now owns 1,204,055 shares of the company's stock worth $2,842,000 after buying an additional 36,900 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Elevate Credit by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,183,024 shares of the company's stock worth $3,620,000 after buying an additional 36,484 shares in the last quarter. Empyrean Capital Partners LP grew its position in shares of Elevate Credit by 6.8% during the first quarter. Empyrean Capital Partners LP now owns 1,046,112 shares of the company's stock worth $3,201,000 after buying an additional 66,790 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Elevate Credit by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 906,347 shares of the company's stock worth $2,774,000 after buying an additional 101,725 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its position in shares of Elevate Credit by 9.0% during the first quarter. Aviance Capital Partners LLC now owns 357,861 shares of the company's stock worth $1,095,000 after buying an additional 29,578 shares in the last quarter. Hedge funds and other institutional investors own 37.43% of the company's stock.

Elevate Credit Company Profile

(Get Rating)

Elevate Credit, Inc provides online credit solutions to non-prime consumers in the United States. The company offers unsecured online installment loans, lines of credit, and credit cards. Its products include Rise, an installment loan product; Elastic, a line of credit product; and Today Card, a credit card product.

Read More

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