Geode Capital Management LLC Has $369,000 Stock Position in Envela Co. (NYSEAMERICAN:ELA)

Geode Capital Management LLC cut its holdings in shares of Envela Co. (NYSEAMERICAN:ELA) by 4.8% in the third quarter, HoldingsChannel reports. The fund owned 67,354 shares of the company’s stock after selling 3,368 shares during the quarter. Geode Capital Management LLC’s holdings in Envela were worth $369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ELA. US Bancorp DE purchased a new stake in shares of Envela in the third quarter worth approximately $339,000. Renaissance Technologies LLC increased its stake in Envela by 11.8% in the 2nd quarter. Renaissance Technologies LLC now owns 195,428 shares of the company’s stock valued at $877,000 after buying an additional 20,624 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Envela in the 2nd quarter valued at approximately $50,000. Cubist Systematic Strategies LLC purchased a new stake in Envela in the 2nd quarter worth approximately $42,000. Finally, Barclays PLC boosted its stake in shares of Envela by 113.7% during the 3rd quarter. Barclays PLC now owns 5,025 shares of the company’s stock valued at $28,000 after buying an additional 2,674 shares during the period. Hedge funds and other institutional investors own 8.15% of the company’s stock.

Analysts Set New Price Targets

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

Envela Stock Down 1.3 %

ELA opened at $7.08 on Monday. The stock has a market cap of $184.08 million, a PE ratio of 29.50 and a beta of 0.31. 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 fifty-two week low of $4.15 and a fifty-two week high of $7.88.

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