Enova International (NYSE:ENVA) Shares Down 6.3% - Time to Sell?

Key Points

• Enova International's shares experienced a significant drop of 6.3%, closing at $114.33 after trading as low as $113.71, with a notable decrease in trading volume.
• Analysts have downgraded the stock from a "strong-buy" to a "hold", with an average target price now set at $111.00.
• The company reported a 21.6% year-over-year revenue growth of $764.04 million, exceeding analyst expectations, while earnings per share were recorded at $3.23.

Shares of Enova International, Inc. (NYSE:ENVA - Get Free Report) dropped 6.3% during trading on Tuesday . The stock traded as low as $113.71 and last traded at $114.33. Approximately 162,372 shares traded hands during trading, a decline of 42% from the average daily volume of 277,915 shares. The stock had previously closed at $121.96.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Enova International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $111.00.

Enova International Stock Down 5.6%

The company's 50 day moving average price is $114.25 and its two-hundred day moving average price is $104.13. The company has a current ratio of 18.15, a quick ratio of 18.15 and a debt-to-equity ratio of 3.23. The stock has a market cap of $2.88 billion, a P/E ratio of 12.24 and a beta of 1.51.

Enova International (NYSE:ENVA - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The credit services provider reported $3.23 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.23. Enova International had a net margin of 8.75% and a return on equity of 23.33%. The firm had revenue of $764.04 million for the quarter, compared to analysts' expectations of $756.69 million. During the same quarter in the prior year, the business earned $2.21 EPS. The business's quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts forecast that Enova International, Inc. will post 10.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO James Joseph Lee sold 478 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $105.61, for a total value of $50,481.58. Following the completion of the sale, the chief accounting officer directly owned 19,751 shares of the company's stock, valued at approximately $2,085,903.11. This represents a 2.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Fisher sold 6,000 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $125.89, for a total transaction of $755,340.00. Following the completion of the sale, the chief executive officer directly owned 348,223 shares of the company's stock, valued at $43,837,793.47. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,788 shares of company stock valued at $11,585,915. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Enova International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ENVA. California State Teachers Retirement System lifted its position in Enova International by 0.4% in the second quarter. California State Teachers Retirement System now owns 24,268 shares of the credit services provider's stock worth $2,706,000 after buying an additional 105 shares during the last quarter. J.Safra Asset Management Corp lifted its position in Enova International by 6.5% in the first quarter. J.Safra Asset Management Corp now owns 3,784 shares of the credit services provider's stock worth $365,000 after buying an additional 232 shares during the last quarter. Rowlandmiller & PARTNERS.ADV lifted its position in Enova International by 1.3% in the first quarter. Rowlandmiller & PARTNERS.ADV now owns 22,062 shares of the credit services provider's stock worth $2,130,000 after buying an additional 290 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Enova International during the first quarter worth $28,000. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of Enova International by 6.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,754 shares of the credit services provider's stock worth $642,000 after purchasing an additional 331 shares during the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.

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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