Barclays PLC Increases Stake in Envela Co. (NYSEAMERICAN:ELA)

Barclays PLC raised its position in Envela Co. (NYSEAMERICAN:ELA) by 113.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,025 shares of the company’s stock after acquiring an additional 2,674 shares during the period. Barclays PLC’s holdings in Envela were worth $28,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ELA. US Bancorp DE acquired a new position in Envela during the third quarter worth $339,000. Renaissance Technologies LLC boosted its position in shares of 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 purchasing an additional 20,624 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Envela during the 2nd quarter worth $50,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Envela in the 2nd quarter valued at about $42,000. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Lake Street Capital boosted their price objective 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 Performance

ELA opened at $7.40 on Friday. Envela Co. has a 1-year low of $4.16 and a 1-year high of $7.88. The company has a market capitalization of $192.40 million, a P/E ratio of 30.83 and a beta of 0.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.08 and a current ratio of 4.76.

Envela (NYSEAMERICAN:ELA) last posted its earnings results 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 company had revenue of $46.90 million for the quarter, compared to analyst estimates of $39.85 million. Envela had a return on equity of 13.01% and a net margin of 3.83%. On average, equities analysts expect that Envela Co. will post 0.24 EPS for the current year.

Envela Profile

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.