US Bancorp DE Buys Shares of 61,790 Envela Co. (NYSEAMERICAN:ELA)

US Bancorp DE bought a new stake in Envela Co. (NYSEAMERICAN:ELA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,790 shares of the company’s stock, valued at approximately $339,000. US Bancorp DE owned about 0.24% of Envela as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ELA. Vanguard Group Inc. increased its holdings in Envela by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 453,065 shares of the company’s stock worth $2,093,000 after acquiring an additional 3,678 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Envela during the 2nd quarter worth approximately $42,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Envela during the 2nd quarter worth approximately $50,000. Finally, Renaissance Technologies LLC increased its holdings in Envela by 11.8% during the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock worth $877,000 after acquiring an additional 20,624 shares during the period. 8.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital increased their price target on shares of Envela from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Envela Stock Up 0.8 %

Shares of Envela stock opened at $6.15 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.76 and a quick ratio of 2.72. The stock has a market capitalization of $159.90 million, a price-to-earnings ratio of 25.63 and a beta of 0.25. Envela Co. has a 52-week low of $3.25 and a 52-week high of $6.24.

Envela (NYSEAMERICAN:ELA) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $46.90 million during the quarter, compared to analysts’ expectations of $39.85 million. Envela had a net margin of 3.83% and a return on equity of 13.01%. As a group, analysts anticipate that Envela Co. will post 0.24 earnings per share for the current fiscal year.

About Envela

Envela Corporation, together with its subsidiaries, operates in the re-commerce sector in the United States. The company operates through two segments, Commercial-Services and Direct-To-Consumer. It provides end-of-life asset recycling; data destruction and IT asset management; and products, services, and solutions to industrial and commercial companies, as well as operates as a re-commerce retailers of luxury hard assets.