Enova International (NYSE:ENVA) Trading 9% Higher After Better-Than-Expected Earnings

Enova International, Inc. (NYSE:ENVA) traded up 9% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $126.20 and last traded at $124.25. 106,453 shares were traded during trading, a decline of 61% from the average session volume of 273,916 shares. The stock had previously closed at $114.03.

The credit services provider reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.33. Enova International had a return on equity of 24.89% and a net margin of 9.64%.The firm had revenue of $802.68 million for the quarter, compared to analysts’ expectations of $806.63 million. During the same quarter in the previous year, the business posted $2.45 earnings per share. The business’s revenue for the quarter was up 16.3% on a year-over-year basis.

Analyst Ratings Changes

ENVA has been the topic of a number of recent research reports. BTIG Research lifted their price target on Enova International from $129.00 to $144.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research lowered Enova International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Enova International in a research note on Wednesday, October 8th. Finally, JMP Securities lifted their price target on Enova International from $135.00 to $149.00 and gave the company a “market outperform” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $116.80.

Insider Buying and Selling

In related news, CAO James Joseph Lee sold 478 shares of Enova International stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $105.61, for a total value of $50,481.58. Following the transaction, the chief accounting officer directly owned 19,751 shares of the company’s stock, valued at $2,085,903.11. The trade was a 2.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Cunningham sold 26,310 shares of Enova International stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $105.72, for a total value of $2,781,493.20. Following the completion of the transaction, the chief financial officer directly owned 131,157 shares in the company, valued at approximately $13,865,918.04. This represents a 16.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,788 shares of company stock valued at $11,009,765 over the last ninety days. 8.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enova International

A number of hedge funds and other institutional investors have recently made changes to their positions in ENVA. 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 worth $167,000 after acquiring an additional 624 shares during the period. J.Safra Asset Management Corp lifted its stake in shares of 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 acquiring an additional 232 shares during the period. Russell Investments Group Ltd. increased its holdings in Enova International by 34.7% in the first quarter. Russell Investments Group Ltd. now owns 63,724 shares of the credit services provider’s stock worth $6,153,000 after purchasing an additional 16,422 shares in the last quarter. Quantbot Technologies LP increased its holdings in Enova International by 430.4% in the first quarter. Quantbot Technologies LP now owns 33,328 shares of the credit services provider’s stock worth $3,218,000 after purchasing an additional 27,044 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Enova International in the first quarter worth approximately $56,000. 89.43% of the stock is owned by institutional investors and hedge funds.

Enova International Stock Performance

The firm has a market capitalization of $3.12 billion, a P/E ratio of 11.48 and a beta of 1.49. The stock has a fifty day simple moving average of $115.96 and a two-hundred day simple moving average of $106.04. The company has a debt-to-equity ratio of 3.23, a current ratio of 18.15 and a quick ratio of 18.15.

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.