Zacks Investment Research downgraded shares of Evine Live Inc. (NASDAQ:EVLV) from a hold rating to a sell rating in a research note released on Monday morning.
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. “
Evine Live (NASDAQ:EVLV) opened at 2.03 on Monday. The stock’s market capitalization is $116.39 million. The stock’s 50 day moving average price is $2.05 and its 200-day moving average price is $1.67. Evine Live has a 12-month low of $0.41 and a 12-month high of $3.16.
Evine Live (NASDAQ:EVLV) last posted its earnings results on Wednesday, August 24th. The company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The company had revenue of $157 million for the quarter, compared to the consensus estimate of $166.31 million. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. Evine Live’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.05) earnings per share. Analysts expect that Evine Live will post ($0.14) earnings per share for the current year.
In other news, Director Landel C. Hobbs bought 45,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 132,575 shares in the company, valued at $292,990.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.49% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Laurion Capital Management LP purchased a new stake in Evine Live during the second quarter worth approximately $249,000. Paloma Partners Management Co purchased a new stake in Evine Live during the second quarter worth approximately $295,000. Teton Advisors Inc. increased its stake in Evine Live by 4.2% in the second quarter. Teton Advisors Inc. now owns 249,200 shares of the company’s stock worth $411,000 after buying an additional 10,000 shares during the last quarter. Diker Management LLC purchased a new stake in Evine Live during the second quarter worth approximately $638,000. Finally, Renaissance Technologies LLC increased its stake in Evine Live by 202.9% in the first quarter. Renaissance Technologies LLC now owns 880,156 shares of the company’s stock worth $1,030,000 after buying an additional 589,600 shares during the last quarter. Institutional investors own 44.20% of the company’s stock.
Evine Live Company Profile
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.