Enova International (NYSE:ENVA) Reaches New 1-Year High – Here’s What Happened

Enova International, Inc. (NYSE:ENVA) shares reached a new 52-week high during trading on Monday . The stock traded as high as $106.73 and last traded at $106.02, with a volume of 9638 shares trading hands. The stock had previously closed at $104.74.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Janney Montgomery Scott cut Enova International from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a report on Monday, October 21st. JMP Securities lifted their price objective on Enova International from $103.00 to $109.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price objective on Enova International from $85.00 to $96.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. Finally, BTIG Research lifted their price objective on Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.14.

Enova International Price Performance

The company has a debt-to-equity ratio of 2.79, a current ratio of 15.82 and a quick ratio of 15.82. The company has a 50-day simple moving average of $89.39 and a two-hundred day simple moving average of $76.80. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 16.70 and a beta of 1.42.

Enova International (NYSE:ENVA) last announced its earnings results on Tuesday, October 22nd. The credit services provider reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The firm had revenue of $689.92 million during the quarter, compared to analyst estimates of $666.33 million. Enova International had a net margin of 7.19% and a return on equity of 18.41%. Enova International’s revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.33 EPS. On average, equities research analysts predict that Enova International, Inc. will post 8.04 earnings per share for the current year.

Enova International announced that its board has approved a share repurchase plan on Monday, August 12th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the credit services provider to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO David Fisher sold 13,314 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $101.74, for a total value of $1,354,566.36. Following the sale, the chief executive officer now owns 399,925 shares in the company, valued at approximately $40,688,369.50. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kirk Chartier sold 17,644 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $86.80, for a total transaction of $1,531,499.20. Following the completion of the sale, the insider now owns 117,422 shares in the company, valued at approximately $10,192,229.60. The trade was a 13.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,843 shares of company stock worth $6,442,079. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Enova International

Several hedge funds and other institutional investors have recently modified their holdings of ENVA. BNP Paribas Financial Markets lifted its position in Enova International by 28.6% in the third quarter. BNP Paribas Financial Markets now owns 58,066 shares of the credit services provider’s stock worth $4,865,000 after purchasing an additional 12,928 shares during the period. SG Americas Securities LLC bought a new position in Enova International in the third quarter worth $772,000. Smith Shellnut Wilson LLC ADV bought a new position in Enova International in the second quarter worth $235,000. F M Investments LLC bought a new position in Enova International in the third quarter worth $242,000. Finally, Summit Global Investments lifted its holdings in shares of Enova International by 7.5% during the second quarter. Summit Global Investments now owns 25,464 shares of the credit services provider’s stock valued at $1,585,000 after acquiring an additional 1,785 shares during the period. Institutional investors and hedge funds own 89.43% of the company’s stock.

Enova International Company Profile

Enova International, Inc, a technology and analytics company, provides online financial services in the United States, Brazil, and internationally. The company provides installment loans; line of credit accounts; CSO programs, including arranging loans with independent third-party lenders and assisting in the preparation of loan applications and loan documents; and bank programs, such as marketing services and loan servicing for near-prime unsecured consumer installment loan.