Evine Live Inc. (NASDAQ:EVLV) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The firm currently has a $2.50 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 13.64% from the company’s current price.
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 assumed coverage on Evine Live in a report on Monday, October 17th. They set a “buy” rating and a $3.50 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Evine Live currently has an average rating of “Buy” and an average price target of $2.88.
Shares of Evine Live (NASDAQ:EVLV) opened at 2.20 on Thursday. The stock’s 50 day moving average is $2.13 and its 200 day moving average is $1.74. The firm’s market cap is $126.14 million. Evine Live has a 12 month low of $0.41 and a 12 month high of $3.14.
Evine Live (NASDAQ:EVLV) last issued its quarterly earnings data on Wednesday, August 24th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01. Evine Live had a negative return on equity of 9.79% and a negative net margin of 1.64%. The company earned $157 million during the quarter, compared to analyst estimates of $166.31 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. Evine Live’s revenue was down 2.5% on a year-over-year basis. Equities research analysts expect that Evine Live will post ($0.14) EPS for the current year.
In other news, Director Landel C. Hobbs bought 45,000 shares of the business’s stock in a transaction on Monday, September 19th. The stock was acquired at an average price of $2.21 per share, with a total value of $99,450.00. Following the completion of the purchase, the director now directly owns 132,575 shares in the company, valued at $292,990.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Michael Arthur Henry bought 14,500 shares of the business’s stock in a transaction on Friday, October 14th. The stock was purchased at an average cost of $2.14 per share, with a total value of $31,030.00. Following the purchase, the chief marketing officer now owns 52,916 shares of the company’s stock, valued at $113,240.24. The disclosure for this purchase can be found here. 3.49% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of EVLV. Cove Street Capital LLC raised 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 valued at $10,866,000 after buying an additional 1,270,256 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Evine Live during the second quarter valued at about $1,658,000. Clinton Group Inc. raised its stake in shares of Evine Live by 73.6% in the second quarter. Clinton Group Inc. now owns 1,601,246 shares of the company’s stock valued at $2,642,000 after buying an additional 678,883 shares in the last quarter. Diker Management LLC purchased a new stake in shares of Evine Live during the second quarter valued at about $638,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Evine Live during the second quarter valued at about $295,000. 40.07% of the stock is owned by institutional investors and hedge funds.
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.