Short Interest in Enova International, Inc. (NYSE:ENVA) Increases By 6.3%

Enova International, Inc. (NYSE:ENVA) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,860,000 shares, a growth of 6.3% from the September 15th total of 1,750,000 shares. Based on an average daily trading volume, of 213,900 shares, the short-interest ratio is presently 8.7 days. Currently, 7.5% of the company’s stock are sold short.

Enova International Price Performance

ENVA stock opened at $87.87 on Friday. The firm’s fifty day moving average is $82.22 and its 200 day moving average is $70.61. The company has a debt-to-equity ratio of 2.78, a quick ratio of 12.07 and a current ratio of 12.07. Enova International has a 52 week low of $35.30 and a 52 week high of $89.36. The firm has a market cap of $2.48 billion, a P/E ratio of 15.80 and a beta of 1.43.

Enova International (NYSE:ENVA) last released its earnings results on Tuesday, July 23rd. The credit services provider reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.14. Enova International had a return on equity of 16.53% and a net margin of 7.52%. The company had revenue of $628.44 million during the quarter, compared to analyst estimates of $622.92 million. During the same quarter in the previous year, the company posted $1.57 EPS. Enova International’s revenue for the quarter was up 25.8% on a year-over-year basis. Research analysts predict that Enova International will post 7.74 earnings per share for the current year.

Enova International announced that its Board of Directors has authorized a stock buyback plan on Monday, August 12th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the credit services provider to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ENVA shares. TD Cowen boosted their price objective on Enova International from $70.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, July 24th. StockNews.com lowered Enova International from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Janney Montgomery Scott downgraded Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. JMP Securities lifted their target price on Enova International from $93.00 to $103.00 and gave the company a “market outperform” rating in a report on Monday. Finally, BTIG Research began coverage on shares of Enova International in a report on Wednesday, August 14th. They issued a “buy” rating and a $90.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Enova International presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Insider Activity at Enova International

In related news, CFO Steven E. Cunningham sold 23,867 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $81.54, for a total value of $1,946,115.18. Following the transaction, the chief financial officer now directly owns 133,471 shares in the company, valued at $10,883,225.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Linda Johnson Rice sold 2,700 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $88.29, for a total value of $238,383.00. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at $660,938.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven E. Cunningham sold 23,867 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $81.54, for a total transaction of $1,946,115.18. Following the completion of the sale, the chief financial officer now owns 133,471 shares of the company’s stock, valued at approximately $10,883,225.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 56,725 shares of company stock valued at $4,690,053 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Enova International

A number of large investors have recently added to or reduced their stakes in ENVA. Foundry Partners LLC raised its stake in shares of Enova International by 11.3% during the first quarter. Foundry Partners LLC now owns 153,427 shares of the credit services provider’s stock valued at $9,640,000 after acquiring an additional 15,519 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Enova International by 172.5% in the 1st quarter. BNP Paribas Financial Markets now owns 51,781 shares of the credit services provider’s stock worth $3,253,000 after buying an additional 32,779 shares during the last quarter. Summit Global Investments increased its stake in shares of Enova International by 7.5% during the second quarter. Summit Global Investments now owns 25,464 shares of the credit services provider’s stock valued at $1,585,000 after buying an additional 1,785 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Enova International by 1.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 20,250 shares of the credit services provider’s stock valued at $1,694,000 after acquiring an additional 200 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Enova International in the third quarter valued at $772,000. Institutional investors own 89.43% of the company’s stock.

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.