Enova International (NYSE:ENVA) Shares Gap Up After Earnings Beat

Enova International, Inc. (NYSE:ENVA - Get Free Report)'s stock price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $89.87, but opened at $95.86. Enova International shares last traded at $89.89, with a volume of 65,196 shares trading hands.

The credit services provider reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.14. Enova International had a net margin of 7.52% and a return on equity of 16.53%. The firm had revenue of $689.92 million for the quarter, compared to the consensus estimate of $666.33 million. During the same period in the previous year, the firm posted $1.33 EPS. The business's quarterly revenue was up 25.1% on a year-over-year basis.

Enova International declared that its Board of Directors has approved a stock repurchase plan on Monday, August 12th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JMP Securities upped their price target on shares of Enova International from $103.00 to $109.00 and gave the company a "market outperform" rating in a report on Wednesday. BTIG Research upped their price target on shares of Enova International from $90.00 to $110.00 and gave the company a "buy" rating in a report on Wednesday. StockNews.com upgraded shares of Enova International from a "hold" rating to a "buy" rating in a report on Monday. Janney Montgomery Scott downgraded shares of Enova International from a "buy" rating to a "neutral" rating in a research note on Monday, August 26th. Finally, TD Cowen upped their target price on shares of Enova International from $85.00 to $96.00 and gave the stock a "hold" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.33.

Insider Activity at Enova International

In related news, CEO David Fisher sold 10,000 shares of Enova International stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $83.46, for a total transaction of $834,600.00. Following the transaction, the chief executive officer now directly owns 423,239 shares of the company's stock, valued at $35,323,526.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Enova International news, CEO David Fisher sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $83.46, for a total value of $834,600.00. Following the completion of the sale, the chief executive officer now directly owns 423,239 shares in the company, valued at $35,323,526.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Sean Rahilly sold 10,158 shares of the firm's stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $81.36, for a total transaction of $826,454.88. Following the completion of the sale, the general counsel now owns 101,949 shares of the company's stock, valued at approximately $8,294,570.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 56,725 shares of company stock valued at $4,690,053 over the last ninety days. 7.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enova International

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of Enova International by 27.6% during the second quarter. GAMMA Investing LLC now owns 855 shares of the credit services provider's stock worth $53,000 after buying an additional 185 shares during the period. USA Financial Formulas acquired a new stake in shares of Enova International during the third quarter worth $76,000. J.Safra Asset Management Corp raised its holdings in shares of Enova International by 83.8% during the first quarter. J.Safra Asset Management Corp now owns 930 shares of the credit services provider's stock worth $58,000 after purchasing an additional 424 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Enova International during the first quarter worth $223,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Enova International by 21.1% during the first quarter. Lazard Asset Management LLC now owns 3,649 shares of the credit services provider's stock worth $228,000 after purchasing an additional 636 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Enova International Trading Down 1.9 %

The company has a debt-to-equity ratio of 2.78, a current ratio of 12.07 and a quick ratio of 12.07. The company's fifty day moving average is $82.98 and its 200-day moving average is $71.38. The stock has a market cap of $2.49 billion, a PE ratio of 15.86 and a beta of 1.43.

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.