Enova International, Inc. (NYSE:ENVA) Short Interest Up 8.6% in November

Enova International, Inc. (NYSE:ENVA) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,760,000 shares, a growth of 8.6% from the October 31st total of 1,620,000 shares. Based on an average daily volume of 199,000 shares, the days-to-cover ratio is currently 8.8 days. Approximately 7.1% of the company’s shares are sold short.

Enova International Stock Performance

Shares of NYSE ENVA traded up $0.09 during midday trading on Wednesday, reaching $105.74. The company had a trading volume of 46,214 shares, compared to its average volume of 229,022. The business’s 50-day simple moving average is $92.60 and its 200 day simple moving average is $78.95. The stock has a market cap of $2.77 billion, a P/E ratio of 16.85 and a beta of 1.46. Enova International has a 1 year low of $43.21 and a 1 year high of $108.15. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 2.79.

Enova International (NYSE:ENVA) last posted its quarterly earnings results on Tuesday, October 22nd. The credit services provider reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $689.92 million during the quarter, compared to analysts’ expectations of $666.33 million. Enova International had a net margin of 7.19% and a return on equity of 18.41%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. On average, analysts forecast that Enova International will post 8.04 earnings per share for the current fiscal year.

Enova International declared that its Board of Directors has initiated a stock buyback program on Monday, August 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the credit services provider to reacquire up to 12.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ENVA. StockNews.com upgraded shares of Enova International from a “hold” rating to a “buy” rating in a research note on Monday, October 21st. Stephens began coverage on shares of Enova International in a research note on Wednesday, November 13th. They set an “overweight” rating and a $108.00 price objective on the stock. Janney Montgomery Scott downgraded shares of Enova International from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. BTIG Research raised their target price on shares of Enova International from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, JMP Securities raised their target price on shares of Enova International from $103.00 to $109.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Enova International has an average rating of “Moderate Buy” and an average price target of $91.14.

Insider Buying and Selling

In other news, insider Kirk Chartier sold 17,644 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $86.80, for a total transaction of $1,531,499.20. Following the transaction, the insider now directly owns 117,422 shares in the company, valued at approximately $10,192,229.60. This trade represents a 13.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven E. Cunningham sold 29,158 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $89.53, for a total transaction of $2,610,515.74. Following the transaction, the chief financial officer now owns 130,355 shares in the company, valued at approximately $11,670,683.15. This represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,843 shares of company stock valued at $7,496,779 in the last ninety days. 7.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ENVA. GAMMA Investing LLC raised its holdings 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 purchasing an additional 185 shares during the last quarter. J.Safra Asset Management Corp raised its holdings in shares of Enova International by 25.1% during the second quarter. J.Safra Asset Management Corp now owns 1,163 shares of the credit services provider’s stock worth $72,000 after purchasing an additional 233 shares during the last quarter. USA Financial Formulas purchased a new position in shares of Enova International during the third quarter worth $76,000. Smith Shellnut Wilson LLC ADV purchased a new position in shares of Enova International during the second quarter worth $235,000. Finally, F M Investments LLC purchased a new position in shares of Enova International during the third quarter worth $242,000. Hedge funds and other 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.