Evine Live Inc. (NASDAQ:EVLV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Separately, B. Riley reaffirmed a “buy” rating and issued a $3.50 price objective on shares of Evine Live in a research report on Monday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $2.88.
Evine Live (NASDAQ:EVLV) opened at 1.70 on Wednesday. The stock’s market cap is $97.47 million. The firm has a 50-day moving average price of $2.04 and a 200-day moving average price of $1.82. Evine Live has a 12 month low of $0.41 and a 12 month high of $2.40.
Evine Live (NASDAQ:EVLV) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. The business earned $152 million during the quarter, compared to the consensus estimate of $163.79 million. Evine Live had a negative net margin of 1.47% and a negative return on equity of 7.40%. The business’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. Equities research analysts expect that Evine Live will post ($0.14) earnings per share for the current fiscal year.
In related news, CMO Michael Arthur Henry acquired 14,500 shares of the company’s stock in a transaction that occurred on Friday, October 14th. The shares were bought at an average price of $2.14 per share, with a total value of $31,030.00. Following the completion of the transaction, the chief marketing officer now directly owns 52,916 shares in the company, valued at $113,240.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Landel C. Hobbs acquired 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were bought at an average cost of $2.21 per share, for a total transaction of $99,450.00. Following the transaction, the director now owns 132,575 shares of the company’s stock, valued at $292,990.75. The disclosure for this purchase can be found here. Insiders own 3.49% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Cove Street Capital LLC increased its stake in shares of Evine Live by 23.9% in the second quarter. Cove Street Capital LLC now owns 6,585,260 shares of the company’s stock worth $10,866,000 after buying an additional 1,270,256 shares during the last quarter. Elk Creek Partners LLC increased its stake in shares of Evine Live by 8.8% in the second quarter. Elk Creek Partners LLC now owns 2,150,309 shares of the company’s stock worth $3,548,000 after buying an additional 174,053 shares during the last quarter. Clinton Group Inc. increased its stake in shares of Evine Live by 19.1% in the third quarter. Clinton Group Inc. now owns 1,907,642 shares of the company’s stock worth $4,369,000 after buying an additional 306,396 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Evine Live during the second quarter worth $1,658,000. Finally, Diker Management LLC bought a new stake in shares of Evine Live during the second quarter worth $638,000. 40.15% of the stock is currently owned by institutional investors.
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.