Goldman Sachs Group Inc. Acquires 13,699 Shares of Envela Corporation $ELA

Goldman Sachs Group Inc. boosted its holdings in Envela Corporation (NYSEAMERICAN:ELA) by 82.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,334 shares of the company’s stock after acquiring an additional 13,699 shares during the quarter. Goldman Sachs Group Inc. owned 0.12% of Envela worth $189,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Mink Brook Asset Management LLC increased its stake in Envela by 13.7% in the 1st quarter. Mink Brook Asset Management LLC now owns 1,299,523 shares of the company’s stock worth $8,096,000 after acquiring an additional 156,754 shares during the last quarter. Millennium Management LLC increased its stake in Envela by 4.2% in the 4th quarter. Millennium Management LLC now owns 55,907 shares of the company’s stock worth $401,000 after acquiring an additional 2,253 shares during the last quarter. Northern Trust Corp increased its stake in Envela by 67.1% in the 4th quarter. Northern Trust Corp now owns 49,320 shares of the company’s stock worth $354,000 after acquiring an additional 19,799 shares during the last quarter. Ancora Advisors LLC increased its stake in Envela by 32.1% in the 1st quarter. Ancora Advisors LLC now owns 44,923 shares of the company’s stock worth $280,000 after acquiring an additional 10,923 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Envela by 12.1% in the 1st quarter. Jane Street Group LLC now owns 34,024 shares of the company’s stock worth $212,000 after acquiring an additional 3,681 shares during the last quarter. 8.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their target price on Envela from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Envela currently has a consensus rating of “Buy” and an average target price of $10.00.

Envela Trading Up 4.4%

Shares of ELA stock opened at $7.81 on Monday. The stock has a market capitalization of $202.83 million, a PE ratio of 23.67 and a beta of 0.29. Envela Corporation has a 1-year low of $5.10 and a 1-year high of $8.36. The business has a 50-day moving average of $6.90 and a 200 day moving average of $6.39. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.58 and a quick ratio of 2.36.

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.