David Fisher, the Chief Executive Officer of Enova International, Inc. (NYSE:ENVA), recently sold shares valued at approximately $1.35 million. According to a recent SEC filing, Fisher sold 13,314 shares of common stock at a price of $101.74 per share on November 6, 2024. This transaction was conducted through the David A. Fisher Declaration of Trust, and post-transaction, Fisher retains no shares under this ownership category.
The filing also reported other transactions involving the same number of shares but at no monetary value, as these were internal transfers within Fisher's trust arrangements. These internal movements did not affect the overall share count directly owned by Fisher, which stands at 399,925 shares following the transactions.
In other recent news, Enova International reported a strong financial performance in its third-quarter earnings call. The company's revenue increased by 25% year-over-year, reaching $690 million, and loan originations hit a record $1.6 billion, a 28% increase from the previous year. Small business loans surpassed $1 billion for the first time, marking a 33% year-over-year growth. The company also reported a solid profitability trajectory with adjusted EBITDA and EPS growing by 42% and 63%, respectively.
Enova International announced a share repurchase program valued at $300 million and anticipates sequential revenue growth of around 5% in Q4 and over 20% year-over-year. The company's total loan and finance receivables reached a peak of $3.8 billion, a 23% increase from the previous year. Enova's liquidity position is strong, with nearly $1.2 billion in available funds.
Despite slower growth in the consumer segment due to product maturity, the company's management remains optimistic about continued strong growth in origination rates and a favorable macroeconomic climate. These are the recent developments for Enova International.
InvestingPro Insights
While David Fisher's recent sale of Enova International shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Enova's stock has shown remarkable performance, with a 141.55% price total return over the past year. This strong performance is reflected in the stock trading near its 52-week high, with the current price at 98.53% of that peak.
The company's financial health appears robust, with revenue growing at 14.8% over the last twelve months as of Q3 2023, reaching $1.17 billion. Enova's profitability is also noteworthy, with a gross profit margin of 81.8% and an operating income margin of 21.9% for the same period.
InvestingPro Tips highlight that management has been aggressively buying back shares, which could be seen as a vote of confidence in the company's future prospects. Additionally, 4 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for Enova's financial performance.
It's worth noting that Enova is trading at a P/E ratio of 15.55, which is relatively high compared to its near-term earnings growth. This valuation metric, combined with the significant return over the last week (13.39%) and month (19.24%), indicates strong investor interest in the stock.
For investors seeking more comprehensive analysis, InvestingPro offers 13 additional tips for Enova International, providing a deeper understanding of the company's financial position and market performance.
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