Here is why Elevate Credit Inc. (ELVT) stock popup in the after-hours on Thursday?

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Elevate Credit Inc. (ELVT) shares surged 7.14% in after-hours on Thursday, September 23, 2021, and closed the daily trading at $3.75. However, in the regular trading session of Thursday, ELVT’s stock lost 1.13%. ELVT shares have risen 60.55% over the last 12 months, and they have moved up 1.16% in the past week. Over the past three months, the stock has lost 10.03%, while over the past six months, it has declined 5.41%.

Let’s see what are the latest news about the company?


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ELVT surpassed the $500 million mark

On September 23, 2021, Elevate Credit, Inc announced that combined loans receivable, principal outstanding recently surpassed $500 million.

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The CEO of ELVT, Jason Harvison said that along with the banks we support, are proud to have eclipsed half of a billion in loans outstanding during the peak of summer demand season in 2021. He further said that the company is expecting combined loans receivable, principal balances to end 2021 in a range of $545 million to $575 million compared to our previous outlook for $475 million to $500 million, due to faster consumer credit recovery.

ELVT participation at the recent investor conferences

Elevate Credit, Inc (ELVT) recently participated at The JMP Securities Fintech Forum: Artificial Intelligence which was held on September 10, 2021.

The company also participated at the10th Annual Gateway Conference which was held on September 8, 2021.

The company was presented by Chief Executive Officer, Jason Harvison, Interim Chief Financial Officer, Chad Bradford, and Chief Risk Officer, David Peterson during both events and had 1×1 or small group investor meetings.

ELVT corporate changes

On August 18, 2021, Elevate Credit, Inc (ELVT) appointed two new members to the Company’s Board of Directors and also did several executive leadership appointments. These changes will help position Elevate to expand the reach of its new Blueprint platform, launch new products and strategic services to banks.

  • Michael Pugh and Manuel “Manolo” Sanchez joined the Board of Directors.
  • The company promoted Chris Lutes to Chief Strategy Officer from Chief Financial Officer position.
  • Chad Bradford, the current Chief Accounting Officer will serve as interim Chief Financial Officer.
  • Scott Greever was promoted to Chief Operating Officer, from the Chief Product Officer position.
  • Eddie Combs joined the company as Chief Marketing Officer.
  • Larry Browder was promoted to Chief Information Officer. Browder previously held roles as Chief Technology Officer and SVP, Technology, since joining Elevate in 2018.

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Conclusion

The latest achievement of the $500 mark was the reason behind its after-hours gains and we can expect it to continue its momentum on Friday as well.

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