Enova International, Inc. (NYSE:ENVA) Sees Large Decline in Short Interest

Enova International, Inc. (NYSE:ENVA) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 1,690,000 shares, a drop of 9.1% from the September 30th total of 1,860,000 shares. Approximately 6.8% of the shares of the stock are short sold. Based on an average trading volume of 219,600 shares, the days-to-cover ratio is presently 7.7 days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ENVA shares. StockNews.com raised Enova International from a “hold” rating to a “buy” rating in a research report on Monday, October 21st. TD Cowen lifted their price target on Enova International from $85.00 to $96.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Janney Montgomery Scott downgraded Enova International from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. JMP Securities raised their price objective on shares of Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 23rd. Finally, BTIG Research boosted their target price on shares of Enova International from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.33.

Enova International Stock Performance

Enova International stock traded up $1.13 during mid-day trading on Wednesday, reaching $88.24. The company had a trading volume of 262,296 shares, compared to its average volume of 232,996. The company has a quick ratio of 12.07, a current ratio of 12.07 and a debt-to-equity ratio of 2.78. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 15.85 and a beta of 1.43. The company has a 50 day moving average of $83.34 and a 200-day moving average of $72.17. Enova International has a 52 week low of $38.89 and a 52 week high of $96.01.

Enova International (NYSE:ENVA) last announced its quarterly earnings data on Tuesday, October 22nd. The credit services provider reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $689.92 million during the quarter, compared to the consensus estimate of $666.33 million. Enova International had a return on equity of 18.41% and a net margin of 7.19%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the company earned $1.33 EPS. On average, sell-side analysts expect that Enova International will post 7.74 EPS for the current fiscal year.

Enova International declared that its Board of Directors has initiated a share buyback program on Monday, August 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the credit services provider to purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO David Fisher sold 10,000 shares of Enova International stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $83.46, for a total value of $834,600.00. Following the transaction, the chief executive officer now owns 423,239 shares of the company’s stock, valued at approximately $35,323,526.94. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO David Fisher sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $83.46, for a total value of $834,600.00. Following the completion of the transaction, the chief executive officer now owns 423,239 shares of the company’s stock, valued at approximately $35,323,526.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven E. Cunningham sold 29,158 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $89.53, for a total transaction of $2,610,515.74. Following the sale, the chief financial officer now directly owns 130,355 shares in the company, valued at approximately $11,670,683.15. 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 75,074 shares of company stock worth $6,546,277 in the last three months. 7.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enova International

Several institutional investors and hedge funds have recently made changes to their positions in ENVA. BNP Paribas Financial Markets grew its position in Enova International by 172.5% during the 1st quarter. BNP Paribas Financial Markets now owns 51,781 shares of the credit services provider’s stock worth $3,253,000 after acquiring an additional 32,779 shares during the last quarter. Smith Shellnut Wilson LLC ADV bought a new stake in shares of Enova International during the second quarter worth $235,000. SG Americas Securities LLC acquired a new stake in shares of Enova International in the first quarter valued at $223,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Enova International by 1.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,250 shares of the credit services provider’s stock valued at $1,694,000 after buying an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Enova International by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider’s stock worth $53,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds 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.