Enova International (NYSE:ENVA) Shares Gap Up on Better-Than-Expected Earnings

Enova International, Inc. (NYSE:ENVA)’s stock price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $89.87, but opened at $95.86. Enova International shares last traded at $89.89, with a volume of 65,196 shares changing hands.

The credit services provider reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $689.92 million for the quarter, compared to the consensus estimate of $666.33 million. Enova International had a net margin of 7.52% and a return on equity of 16.53%. Enova International’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.33 earnings per share.

Enova International declared that its board has authorized a share buyback program 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 buy up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

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

Insider Transactions at Enova International

In other news, CEO David Fisher sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $84.45, for a total value of $844,500.00. Following the transaction, the chief executive officer now directly owns 413,239 shares in the company, valued at approximately $34,898,033.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO David Fisher sold 10,000 shares of Enova International stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $84.45, for a total value of $844,500.00. Following the sale, the chief executive officer now directly owns 413,239 shares in the company, valued at $34,898,033.55. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven E. Cunningham sold 23,867 shares of Enova International stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $81.54, for a total transaction of $1,946,115.18. Following the completion of the sale, the chief financial officer now owns 133,471 shares in the company, valued at approximately $10,883,225.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,725 shares of company stock worth $4,690,053. 7.80% of the stock is currently owned by insiders.

Institutional Trading of Enova International

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Enova International by 27.6% during the 2nd 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. J.Safra Asset Management Corp grew its stake 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 worth $58,000 after purchasing an additional 424 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Enova International in the 3rd quarter worth approximately $76,000. SG Americas Securities LLC acquired a new position in shares of Enova International in the 1st quarter worth approximately $223,000. Finally, Lazard Asset Management LLC grew its stake in shares of 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 purchasing an additional 636 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors.

Enova International Price Performance

The company’s 50 day moving average price is $82.98 and its 200-day moving average price is $71.38. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 15.86 and a beta of 1.43. The company has a debt-to-equity ratio of 2.78, a quick ratio of 12.07 and a current ratio of 12.07.

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.