Mackenzie Financial Corp Has $934,000 Holdings in Elevate Credit Inc (ELVT)

Mackenzie Financial Corp reduced its stake in Elevate Credit Inc (NYSE:ELVT) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 208,587 shares of the company’s stock after selling 19,864 shares during the quarter. Mackenzie Financial Corp’s holdings in Elevate Credit were worth $934,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ELVT. Renaissance Technologies LLC grew its stake in shares of Elevate Credit by 323.3% in the 3rd quarter. Renaissance Technologies LLC now owns 693,438 shares of the company’s stock valued at $5,589,000 after purchasing an additional 529,638 shares during the last quarter. Prescott Group Capital Management L.L.C. grew its stake in shares of Elevate Credit by 68.9% in the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,042,094 shares of the company’s stock valued at $8,399,000 after purchasing an additional 425,115 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Elevate Credit by 23.2% in the third quarter. BlackRock Inc. now owns 1,304,705 shares of the company’s stock valued at $10,516,000 after buying an additional 246,120 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Elevate Credit by 271.8% in the third quarter. Dimensional Fund Advisors LP now owns 220,296 shares of the company’s stock valued at $1,776,000 after buying an additional 161,052 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Elevate Credit by 3,030.3% in the third quarter. JPMorgan Chase & Co. now owns 128,280 shares of the company’s stock valued at $1,033,000 after buying an additional 124,182 shares in the last quarter. Institutional investors own 43.83% of the company’s stock.

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A number of analysts recently weighed in on ELVT shares. BTIG Research upgraded Elevate Credit from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Wednesday, February 13th. Maxim Group restated a “buy” rating and issued a $10.00 price target on shares of Elevate Credit in a research note on Tuesday, February 12th. Zacks Investment Research upgraded Elevate Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Jefferies Financial Group downgraded Elevate Credit from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.50 to $5.00 in a research note on Tuesday, January 8th. Finally, UBS Group downgraded Elevate Credit from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Friday, February 22nd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Elevate Credit presently has a consensus rating of “Hold” and an average price target of $7.65.

Elevate Credit stock opened at $4.41 on Friday. Elevate Credit Inc has a 1-year low of $3.71 and a 1-year high of $11.27. The company has a market capitalization of $196.98 million, a P/E ratio of 11.40 and a beta of 1.81.

Elevate Credit (NYSE:ELVT) last posted its quarterly earnings results on Monday, February 11th. The company reported $0.09 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.09. Elevate Credit had a return on equity of 15.72% and a net margin of 1.59%. The firm had revenue of $207.29 million for the quarter, compared to the consensus estimate of $212.42 million. As a group, research analysts anticipate that Elevate Credit Inc will post 0.58 EPS for the current year.

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Elevate Credit Profile

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

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