Enova International (NYSE:ENVA) Shares Gap Up - Here's What Happened

Key Points

• ENVA shares opened sharply higher, rising from a prior close of $168.34 to an opening price of $175.08, before last trading at $169.32.
• Enova beat quarterly estimates with EPS of $4.48 versus $4.42 expected and revenue of $1.01 billion; revenue grew 25.7% year over year.
• Analysts give the stock a consensus “Moderate Buy” rating and an average price target of $239. Insiders sold about 115,758 shares worth $21.5 million over the past three months.

Enova International, Inc. (NYSE:ENVA - Get Free Report)'s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $168.34, but opened at $175.08. Enova International shares last traded at $169.3150, with a volume of 69,396 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ENVA shares. Wall Street Zen cut shares of Enova International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 22nd. Stephens upped their price objective on shares of Enova International from $215.00 to $225.00 and gave the stock an "overweight" rating in a report on Friday, October 23rd. TD Cowen upped their price objective on shares of Enova International from $220.00 to $224.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Enova International in a research note on Thursday, October 15th. Finally, Zacks Research lowered shares of Enova International from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 16th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $239.00.

Enova International Price Performance

The company has a quick ratio of 18.91, a current ratio of 18.92 and a debt-to-equity ratio of 3.43. The firm has a fifty day moving average price of $185.01 and a two-hundred day moving average price of $184.25. The stock has a market capitalization of $4.17 billion, a P/E ratio of 11.71 and a beta of 1.36.

Enova International (NYSE:ENVA - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share for the quarter, beating analysts' consensus estimates of $4.42 by $0.06. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Enova International had a net margin of 10.47% and a return on equity of 27.25%. Enova International's revenue was up 25.7% compared to the same quarter last year. During the same period last year, the business earned $3.36 EPS. On average, analysts expect that Enova International, Inc. will post 16.32 EPS for the current year.

Insider Activity

In other Enova International news, Chairman David Fisher sold 9,957 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $178.16, for a total transaction of $1,773,939.12. Following the sale, the chairman directly owned 306,444 shares in the company, valued at approximately $54,596,063.04. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Steven E. Cunningham sold 15,305 shares of Enova International stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $172.00, for a total value of $2,632,460.00. Following the completion of the sale, the chief executive officer directly owned 118,789 shares of the company's stock, valued at approximately $20,431,708. The trade was a 11.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 115,758 shares of company stock worth $21,490,436 over the last three months. 8.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enova International

Several institutional investors have recently modified their holdings of ENVA. USA Financial Formulas bought a new position in Enova International during the 3rd quarter valued at about $30,000. Jacobi Capital Management LLC bought a new stake in shares of Enova International in the third quarter worth approximately $32,000. Integrated Wealth Concepts LLC purchased a new position in shares of Enova International during the second quarter valued at approximately $52,000. McIlrath & Eck LLC purchased a new position in shares of Enova International during the first quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of Enova International by 51.6% during the third quarter. Hantz Financial Services Inc. now owns 338 shares of the credit services provider's stock valued at $56,000 after purchasing an additional 115 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 is a financial technology company that provides online financial services to consumers and small businesses, with a focus on customers who may have limited access to traditional credit. Its products include installment loans and lines of credit. The company serves consumers through brands including CashNetUSA and NetCredit, and provides financing to small businesses through OnDeck and Headway Capital. Enova also uses data analytics and technology to support its lending and customer-service operations.

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