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

Shares of Enova International, Inc. (NYSE:ENVA) reached a new 52-week high on Wednesday . The company traded as high as $133.50 and last traded at $133.34, with a volume of 8393 shares. The stock had previously closed at $130.89.

Analyst Ratings Changes

Several analysts have recently weighed in on ENVA shares. Zacks Research downgraded Enova International from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. JMP Securities boosted their price objective on Enova International from $135.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday, October 24th. Wall Street Zen lowered shares of Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enova International in a research report on Wednesday, October 8th. Finally, BTIG Research increased their price target on shares of Enova International from $129.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Enova International has a consensus rating of “Buy” and a consensus target price of $116.80.

Enova International Stock Up 2.7%

The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 12.34 and a beta of 1.31. The firm’s 50-day moving average price is $119.55 and its 200 day moving average price is $112.16. The company has a debt-to-equity ratio of 3.20, a current ratio of 19.29 and a quick ratio of 19.29.

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

Enova International declared that its board has authorized a stock buyback program on Wednesday, November 12th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the credit services provider to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, CFO Steven E. Cunningham sold 14,874 shares of the company’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 transaction of $1,795,291.80. Following the completion of the transaction, the chief financial officer owned 127,719 shares of the company’s stock, valued at approximately $15,415,683.30. This represents a 10.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Fisher sold 6,000 shares of Enova International stock in a transaction on Friday, November 21st. The shares were sold at an average price of $124.25, for a total transaction of $745,500.00. Following the completion of the transaction, the chief executive officer owned 348,223 shares in the company, valued at approximately $43,266,707.75. This trade represents a 1.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 87,874 shares of company stock valued at $10,865,242 in the last 90 days. 8.40% of the stock is owned by company insiders.

Institutional Trading of Enova International

A number of institutional investors have recently modified their holdings of ENVA. Pacer Advisors Inc. purchased a new position in Enova International in the third quarter valued at approximately $28,000. Bessemer Group Inc. increased its holdings in Enova International by 174.2% in the 3rd 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 in the last quarter. Strs Ohio purchased a new stake in shares of Enova International during the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 350 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Enova International during the first quarter valued at approximately $56,000. 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.