Envela Co. (NYSEAMERICAN:ELA) Stock Holdings Cut by Geode Capital Management LLC

Geode Capital Management LLC lessened its position in Envela Co. (NYSEAMERICAN:ELA) by 4.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 67,354 shares of the company’s stock after selling 3,368 shares during the period. Geode Capital Management LLC owned approximately 0.26% of Envela worth $369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in Envela by 113.7% during the third quarter. Barclays PLC now owns 5,025 shares of the company’s stock worth $28,000 after acquiring an additional 2,674 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Envela in the 2nd quarter worth approximately $42,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Envela in the 2nd quarter worth approximately $50,000. US Bancorp DE acquired a new stake in Envela during the third quarter valued at approximately $339,000. Finally, Renaissance Technologies LLC lifted its stake in Envela by 11.8% during the second quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after purchasing an additional 20,624 shares during the last quarter. Institutional investors own 8.15% of the company’s stock.

Envela Stock Down 1.3 %

Shares of NYSEAMERICAN ELA opened at $7.08 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.76 and a quick ratio of 2.08. Envela Co. has a 12 month low of $4.15 and a 12 month high of $7.88. The firm has a market cap of $184.08 million, a PE ratio of 29.50 and a beta of 0.31.

Envela (NYSEAMERICAN:ELA) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $46.90 million during the quarter, compared to analyst estimates of $39.85 million. Envela had a net margin of 3.83% and a return on equity of 13.01%. Equities research analysts forecast that Envela Co. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.