Shares of Elevate Credit, Inc. (NYSE:ELVT) acquired by Assenagon Asset Management SA
Assenagon Asset Management SA increased its position in Elevate Credit, Inc. (NYSE: ELVT – Get a rating) by 251.7% in the first quarter, according to its last disclosure to the SEC. The institutional investor held 151,459 shares of the company after purchasing an additional 108,389 shares during the period. Assenagon Asset Management SA’s holdings in Elevate Credit were worth $463,000 at the end of the most recent period.
A number of other hedge funds also bought and sold shares of ELVT. Dimensional Fund Advisors LP increased its stake in Elevate Credit by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 804,622 shares of the company valued at $2,390,000 after acquiring an additional 54,932 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Elevate Credit by 6.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 100,275 shares of the company valued at $298,000 after acquiring an additional 5,691 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Elevate Credit by 16.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 923,302 shares of the company valued at $2,742,000 after acquiring an additional 129,879 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc. increased its stake in Elevate Credit by 228.6% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 46,000 shares of the company valued at $137,000 after acquiring an additional 32,000 shares during the period. 43.11% of the shares are currently held by institutional investors and hedge funds.
Raising the stock of credit up 1.4%
Shares of Stock ELVT opened at $2.18 on Tuesday. The company has a 50-day moving average of $2.49 and a 200-day moving average of $2.87. Elevate Credit, Inc. has a 52-week low of $2.07 and a 52-week high of $4.26. The company has a market capitalization of $68.33 million, a P/E ratio of -1.18 and a beta of 2.00.
Increase credit (NYSE: ELVT – Get a rating) last reported results on Wednesday, May 4. The company reported EPS ($0.44) for the quarter. The company had revenue of $124.24 million in the quarter. Elevate Credit had a negative net margin of 13.35% and a negative return on equity of 26.82%.
Insider Trading at Elevate Credit
In other Elevate Credit news, insider Christopher Lutes acquired 41,267 shares of Elevate Credit in a trade dated Wednesday, May 18. The shares were acquired at an average cost of $2.42 per share, for a total transaction of $99,866.14. Following the completion of the transaction, the insider now owns 594,833 shares of the company, valued at approximately $1,439,495.86. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders hold 10.00% of the shares of the company.
About Elevate Credit
Elevate Credit, Inc provides online credit solutions to unprivileged consumers in the United States. The company offers online unsecured installment loans, lines of credit and credit cards. Its products include Rise, an installment loan product; Elastic, a credit line product; and Today Card, a credit card product.
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