Enova International (NYSE:ENVA) Shares Gap Down After Earnings Miss

Enova International, Inc. (NYSE:ENVA)’s stock price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $44.18, but opened at $40.38. Enova International shares last traded at $38.82, with a volume of 159,819 shares changing hands.

The credit services provider reported $1.33 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.51). The company had revenue of $551.36 million for the quarter, compared to analysts’ expectations of $532.82 million. Enova International had a net margin of 10.48% and a return on equity of 17.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ENVA shares. StockNews.com lowered shares of Enova International from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of Enova International from $60.00 to $63.00 in a report on Tuesday, July 11th. Finally, JMP Securities reduced their target price on shares of Enova International from $66.00 to $58.00 and set a “market outperform” rating for the company in a report on Wednesday.

Insider Buying and Selling at Enova International

In other news, Director Linda Johnson Rice sold 2,920 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $51.38, for a total value of $150,029.60. Following the sale, the director now owns 14,182 shares of the company’s stock, valued at $728,671.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Steven E. Cunningham sold 7,892 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $50.25, for a total value of $396,573.00. Following the sale, the chief financial officer now directly owns 169,491 shares in the company, valued at approximately $8,516,922.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda Johnson Rice sold 2,920 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $51.38, for a total transaction of $150,029.60. Following the completion of the sale, the director now owns 14,182 shares in the company, valued at $728,671.16. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enova International

A number of institutional investors have recently bought and sold shares of ENVA. MetLife Investment Management LLC increased its holdings in shares of Enova International by 53.0% during the 1st quarter. MetLife Investment Management LLC now owns 20,678 shares of the credit services provider’s stock valued at $785,000 after purchasing an additional 7,162 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Enova International by 13.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 46,568 shares of the credit services provider’s stock valued at $1,342,000 after buying an additional 5,461 shares during the period. Credit Suisse AG raised its holdings in Enova International by 12.8% in the 3rd quarter. Credit Suisse AG now owns 28,560 shares of the credit services provider’s stock valued at $835,000 after buying an additional 3,250 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in Enova International by 39.5% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 16,244 shares of the credit services provider’s stock valued at $475,000 after buying an additional 4,602 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Enova International by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 575,112 shares of the credit services provider’s stock valued at $22,067,000 after buying an additional 11,837 shares during the period. 90.32% of the stock is owned by hedge funds and other institutional investors.

Enova International Price Performance

The company has a debt-to-equity ratio of 1.84, a current ratio of 13.37 and a quick ratio of 13.37. The company has a market capitalization of $1.11 billion, a PE ratio of 5.84 and a beta of 1.55. The stock’s 50 day simple moving average is $49.25 and its 200-day simple moving average is $49.72.

About Enova International

Enova International, Inc operates as a financial services company with online lending that serves small businesses and consumers who are underserved by traditional banks. The company offers 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.