Enova International (NYSE:ENVA) Reaches New 12-Month High – What’s Next?

Enova International, Inc. (NYSE:ENVA) shares hit a new 52-week high during trading on Thursday . The company traded as high as $133.11 and last traded at $132.25, with a volume of 16366 shares trading hands. The stock had previously closed at $127.26.

Analysts Set New Price Targets

Several research firms recently weighed in on ENVA. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Enova International in a report on Wednesday, October 8th. Zacks Research downgraded shares of Enova International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. JMP Securities increased their price objective on shares of Enova International from $135.00 to $149.00 and gave the company a “market outperform” rating in a report on Friday, October 24th. Finally, BTIG Research raised their price objective on shares of Enova International from $129.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $116.80.

Enova International Stock Up 2.3%

The business’s 50 day simple moving average is $118.02 and its 200-day simple moving average is $109.04. The company has a debt-to-equity ratio of 3.20, a quick ratio of 18.15 and a current ratio of 19.29. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 12.15 and a beta of 1.47.

Enova International (NYSE:ENVA) last announced its earnings results on Thursday, October 23rd. The credit services provider reported $3.36 EPS for the quarter, topping the consensus estimate of $3.03 by $0.33. Enova International had a net margin of 9.64% and a return on equity of 24.50%. The business had revenue of $460.71 million during the quarter, compared to analysts’ expectations of $806.63 million. During the same quarter in the prior year, the company posted $2.45 earnings per share. The firm’s revenue was up 16.3% on a year-over-year basis. Sell-side analysts expect that Enova International, Inc. will post 10.31 earnings per share for the current year.

Enova International declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 12th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the credit services provider to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at Enova International

In other news, CEO David Fisher sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $125.55, for a total transaction of $4,394,250.00. Following the transaction, the chief executive officer owned 348,223 shares in the company, valued at approximately $43,719,397.65. This trade represents a 9.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven E. Cunningham sold 14,874 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $120.70, for a total value of $1,795,291.80. Following the completion of the sale, the chief financial officer owned 127,719 shares of the company’s stock, valued at approximately $15,415,683.30. This trade represents a 10.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,874 shares of company stock valued at $10,708,742 over the last quarter. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enova International

A number of hedge funds and other institutional investors have recently bought and sold shares of ENVA. Pacer Advisors Inc. bought a new position in Enova International in the 3rd quarter valued at approximately $28,000. Bessemer Group Inc. raised its holdings in shares of Enova International by 174.2% during the third quarter. Bessemer Group Inc. now owns 255 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 162 shares during the period. Strs Ohio bought a new stake in Enova International during the 3rd quarter valued at $35,000. EverSource Wealth Advisors LLC boosted its position in shares of Enova International by 350.0% during the second quarter. EverSource Wealth Advisors LLC now owns 450 shares of the credit services provider’s stock valued at $50,000 after buying an additional 350 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Enova International during the first quarter worth $56,000. Institutional investors 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.