Enova International (NYSE:ENVA) Reaches New 52-Week High – Here’s What Happened

Shares of Enova International, Inc. (NYSE:ENVA) hit a new 52-week high on Tuesday . The company traded as high as $89.67 and last traded at $88.97, with a volume of 163362 shares traded. The stock had previously closed at $86.17.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ENVA shares. TD Cowen boosted their price target on Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. BTIG Research assumed coverage on shares of Enova International in a report on Wednesday, August 14th. They set a “buy” rating and a $90.00 target price on the stock. Janney Montgomery Scott downgraded shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. StockNews.com raised shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday. Finally, JMP Securities raised their target price on Enova International from $93.00 to $103.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Enova International has an average rating of “Moderate Buy” and an average target price of $80.67.

Enova International Trading Up 4.3 %

The stock has a market capitalization of $2.53 billion, a P/E ratio of 15.49 and a beta of 1.43. The firm’s 50 day simple moving average is $82.62 and its two-hundred day simple moving average is $71.07. The company has a quick ratio of 12.07, a current ratio of 12.07 and a debt-to-equity ratio of 2.78.

Enova International (NYSE:ENVA) last announced its quarterly earnings data on Tuesday, July 23rd. The credit services provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Enova International had a return on equity of 16.53% and a net margin of 7.52%. The firm had revenue of $628.44 million during the quarter, compared to analysts’ expectations of $622.92 million. During the same quarter last year, the firm posted $1.57 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. As a group, analysts forecast that Enova International, Inc. will post 7.74 earnings per share for the current fiscal year.

Enova International declared that its board has initiated a share repurchase plan on Monday, August 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the credit services provider to buy up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at Enova International

In other news, General Counsel Sean Rahilly sold 10,158 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $81.36, for a total value of $826,454.88. Following the completion of the sale, the general counsel now owns 101,949 shares in the company, valued at $8,294,570.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel Sean Rahilly sold 10,158 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $81.36, for a total value of $826,454.88. Following the completion of the transaction, the general counsel now directly owns 101,949 shares of the company’s stock, valued at $8,294,570.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Fisher sold 10,000 shares of Enova International stock in a transaction on Monday, August 19th. The stock was sold at an average price of $83.46, for a total value of $834,600.00. Following the sale, the chief executive officer now owns 423,239 shares in the company, valued at $35,323,526.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,725 shares of company stock valued at $4,690,053 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Enova International

Several large investors have recently modified their holdings of ENVA. GAMMA Investing LLC grew its holdings in Enova International by 27.6% during the second quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 185 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Enova International by 1.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,250 shares of the credit services provider’s stock worth $1,694,000 after acquiring an additional 200 shares during the period. J.Safra Asset Management Corp grew its stake in shares of Enova International by 25.1% during the 2nd quarter. J.Safra Asset Management Corp now owns 1,163 shares of the credit services provider’s stock worth $72,000 after acquiring an additional 233 shares during the period. Lazard Asset Management LLC increased its holdings in Enova International by 21.1% in the 1st quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock worth $228,000 after acquiring an additional 636 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in Enova International in the 3rd quarter valued at about $76,000. Hedge funds and other institutional investors own 89.43% of the company’s stock.

About Enova International

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.