StockNews.com analysts kicked off coverage of Enova International on Wednesday with a letter sent to investors (NYSE: ENVA). The brokerage company recommended keeping its position in the shares of the company that offers credit services.
In a separate research report released Thursday, September 29, JMP Securities reaffirmed its “buy” rating on Enova International shares in a separate research report. JMP Securities also set its price target for the company at $42.00.
When trading began on Wednesday, the price of one ENVA share was $30.80 per share. Over the past year, the price of Enova International has varied from a low of $25.80 to a high of $47.88 at various times. It has a debt ratio of 1.66, a current ratio of 13.45 and a quick ratio equal to the current ratio. All of these numbers are relatively high. The stock price is currently trading at $34.02 above its 50-day simple moving average, or $33.30 below its 200-day simple moving average. The current market value of the company is $985.94 million and its price to earnings ratio is 5.38. The company’s beta value is 1.43.
Enova International’s (NYSE:ENVA) latest quarterly earnings report was released on Thursday, July 28, and the company has disclosed the results. The credit services provider reported earnings per share of $1.48, the same amount as the $1.48 analysts had expected the company to report. Enova International’s return on equity was 19.31%, while the company’s net margin was 13.88%. The company’s last quarter revenue was $407.90 million, significantly higher than the consensus projection of $405.15 million in revenue for the quarter. Earnings per share for the current year are $2.16, which is higher than the results for the same quarter of the previous year, which were $2.12. In addition, the revenue increase was 54.1% higher than the same quarter of the previous year when it was measured. According to sell-side analysts’ projections, Enova International will earn $6.16 per share in 2018.
Separately, on October 4, the company’s chief financial officer, Steven E. Cunningham, sold 29,674 shares of the company. This information was disclosed in a previous update. The price per share was determined to be $31.00 on average, giving a total transaction value of $919,894.00. Following completion of the transaction, the CFO will hold a total of 178,356 shares of the company. These shares are currently valued at $5,529,036. Information regarding the sale filed with the Securities and Exchange Commission is currently available online at the SEC’s website. In addition, 7.20% of the company’s shares are held by people who work for the company.
Recently, several hedge funds and institutional investors have either increased the amount of stocks they hold or decreased the amount of stocks they have invested in. Summit Global Investments increased its total stake in Enova International to 100% after buying a 49.5% stake in the company during the second quarter of the fiscal year. As a direct result of Summit Global Investments’ purchase of an additional 8,075 shares of the credit services provider last quarter, the company now directly owns 24,375 shares of the company, worth $70,000. During the second quarter, UBS Asset Management Americas Inc. increased the number of Enova International shares held by 13.3%, bringing its total percentage ownership to 100%. Following the purchase of an additional 5,461 shares, UBS Asset Management Americas Inc. now owns 46,568 shares of the credit services provider. Based on the current market price of each share, the company’s holdings are worth a total of $1,342,000. In the second quarter, Alpha DNA Investment Management LLC increased the total number of Enova International shares it held to 2.3% more than before. Following the acquisition of 716 additional shares in the last fiscal quarter, Alpha DNA Investment Management LLC now owns 32,464 shares of the credit service provider, which have a market value of $935,000. Alpha DNA Investment Management LLC acquired the shares. During the second quarter, Mutual of America Capital Management LLC added 11.1% to the shares of Enova International it held, bringing its total ownership percentage to 88.4%. Mutual of America Capital Management LLC now owns a total of 5,468 shares of the financial services provider, which have a market value of $158,000. This is the result of the purchase of 548 additional shares during the last fiscal quarter. A new investment in Enova International was made during the second quarter by Lazard Asset Management LLC, which brings us to our last and final point. This business deal was worth somewhere in the neighborhood of $44,000. Institutional investors and hedge funds hold 92.43% of the company’s shares.
Enova International, Inc., a technology and analytics company, provides online financial services to clients in several countries, including the United States of America, Brazil, Australia and Canada. The company provides:
Unsecured installment loan.
Receivables lease agreement.
CSOgrams include arranging loans with independent third-party lenders and assisting in the preparation of loan applications and documents.
Banking programs such as marketing services and loan servicing for prime loans
The Company also offers consumer credit lines, lines of credit and purchase of receivables agreements, among others.