Enova International (NYSE:ENVA) Hits New 52-Week High – Here’s Why

Shares of Enova International, Inc. (NYSE:ENVA) reached a new 52-week high on Wednesday . The company traded as high as $88.96 and last traded at $88.89, with a volume of 48014 shares changing hands. The stock had previously closed at $86.38.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ENVA shares. Janney Montgomery Scott downgraded Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. StockNews.com cut shares of Enova International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. TD Cowen upped their price objective on Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. JMP Securities lifted their target price on Enova International from $93.00 to $103.00 and gave the company a “market outperform” rating in a research report on Monday. Finally, BTIG Research started coverage on shares of Enova International in a report on Wednesday, August 14th. They set a “buy” rating and a $90.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $80.67.

Enova International Stock Down 1.2 %

The company’s 50-day simple moving average is $82.22 and its 200 day simple moving average is $70.61. The company has a debt-to-equity ratio of 2.78, a current ratio of 12.07 and a quick ratio of 12.07. The firm has a market cap of $2.45 billion, a P/E ratio of 15.80 and a beta of 1.43.

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

Enova International announced that its board has authorized a stock buyback plan on Monday, August 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to reacquire 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 stock is undervalued.

Insider Buying and Selling

In related news, CEO David Fisher sold 10,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $83.46, for a total transaction of $834,600.00. Following the transaction, the chief executive officer now directly owns 423,239 shares in the company, valued at approximately $35,323,526.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Linda Johnson Rice sold 2,700 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total value of $238,383.00. Following the transaction, the director now owns 7,486 shares of the company’s stock, valued at $660,938.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Fisher sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $83.46, for a total transaction of $834,600.00. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,725 shares of company stock worth $4,690,053 over the last three months. 7.80% of the stock is owned by insiders.

Institutional Trading of Enova International

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of 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 buying an additional 185 shares during the period. USA Financial Formulas purchased a new position in Enova International during the 3rd quarter valued at about $76,000. J.Safra Asset Management Corp raised its holdings in shares of Enova International by 83.8% in the 1st quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider’s stock valued at $58,000 after purchasing an additional 424 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Enova International in the 1st quarter worth approximately $223,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Enova International by 21.1% during the first quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider’s stock valued at $228,000 after purchasing an additional 636 shares in the last quarter. 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.