Enova International (NYSE:ENVA) Sees Strong Trading Volume on Earnings Beat

Key Points

• Enova International reported earnings of $3.23 per share, surpassing analysts' expectations of $3.00, along with revenue of $764.04 million for the quarter.
• The stock saw a trading volume increase of 14% to 303,901 shares after the earnings announcement, although it last traded at $107.74, down from $111.74.
• Analysts have given the stock an average rating of "Buy" with a target price of $111.00, indicating strong bullish sentiment from multiple firms.
• Insider selling included CEO David Fisher selling 5,000 shares at an average price of $115.23, reducing his ownership stake by 1.42%.

Enova International, Inc. (NYSE:ENVA - Get Free Report) saw strong trading volume on Friday following a better than expected earnings announcement. 303,901 shares traded hands during trading, an increase of 14% from the previous session's volume of 265,643 shares.The stock last traded at $107.74 and had previously closed at $111.74.

The credit services provider reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.23. The company had revenue of $764.04 million for the quarter, compared to analysts' expectations of $756.69 million. Enova International had a return on equity of 21.79% and a net margin of 8.38%. The firm's revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.21 earnings per share.

Wall Street Analyst Weigh In

ENVA has been the topic of several recent analyst reports. Seaport Res Ptn raised shares of Enova International to a "strong-buy" rating in a research note on Wednesday, May 14th. TD Cowen raised shares of Enova International from a "hold" rating to a "buy" rating and set a $17.00 target price on the stock in a research note on Tuesday, April 1st. Finally, JMP Securities reissued a "market outperform" rating and set a $135.00 target price on shares of Enova International in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $111.00.

Insiders Place Their Bets

In related news, CEO David Fisher sold 5,000 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $115.23, for a total value of $576,150.00. Following the completion of the sale, the chief executive officer directly owned 348,223 shares in the company, valued at approximately $40,125,736.29. This represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Sean Rahilly sold 9,046 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $95.05, for a total transaction of $859,822.30. Following the completion of the sale, the general counsel owned 103,842 shares of the company's stock, valued at $9,870,182.10. This represents a 8.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock valued at $1,830,112 over the last quarter. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enova International

Hedge funds have recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new stake in Enova International during the first quarter valued at about $28,000. Versant Capital Management Inc boosted its holdings in Enova International by 521.3% during the first quarter. Versant Capital Management Inc now owns 466 shares of the credit services provider's stock valued at $45,000 after acquiring an additional 391 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Enova International during the first quarter valued at about $56,000. Sterling Capital Management LLC lifted its stake in shares of Enova International by 823.0% in the fourth quarter. Sterling Capital Management LLC now owns 803 shares of the credit services provider's stock valued at $77,000 after buying an additional 716 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Enova International by 56.5% in the first quarter. GAMMA Investing LLC now owns 1,729 shares of the credit services provider's stock valued at $167,000 after buying an additional 624 shares during the period. 89.43% of the stock is currently owned by institutional investors.

Enova International Trading Down 2.9%

The firm has a market cap of $2.75 billion, a P/E ratio of 12.78 and a beta of 1.48. The company's 50 day moving average is $103.39 and its two-hundred day moving average is $101.02. The company has a debt-to-equity ratio of 3.14, a current ratio of 18.55 and a quick ratio of 18.55.

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.

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