CHICAGO—Enova International, Inc. (NYSE:ENVA) recently disclosed that its Chief Strategy Officer, Kirk Chartier, sold a significant portion of the company’s common stock. According to a filing with the Securities and Exchange Commission, Chartier sold 17,644 shares on October 28 at an average price of $86.7979 per share, amounting to approximately $1.53 million.
The transaction was executed in multiple trades, with prices ranging from $86.355 to $87.71. Following the sale, Chartier now holds 117,422 shares of Enova's common stock.
In addition to the sale, Chartier also exercised options to acquire 17,644 shares at a price of $23.96 each, totaling $422,750. This exercise of options did not result in any additional shares being held, as the acquired shares were subsequently sold.
Enova International, a Chicago-based personal credit institution, continues to see its executives actively managing their stock holdings amidst the company's ongoing operations.
In other recent news, Enova International reported strong financial results in its third quarter, with record loan originations of $1.6 billion, marking a 28% increase year-over-year. Revenue also saw a significant boost, reaching $690 million, representing a 25% surge from the same period the previous year. Notably, the company's small business loans surpassed $1 billion for the first time, indicating a 33% growth year-over-year.
Enova's profitability trajectory was solid, with adjusted EBITDA and EPS growing by 42% and 63% respectively. The company also announced a share repurchase program, valued at $300 million. Looking ahead, Enova anticipates a sequential revenue growth of around 5% in the fourth quarter and over 20% year-over-year.
Despite slower growth in the consumer segment due to product maturity, the company's financial health appears robust, with a diverse portfolio and strong credit quality. The company's total loan and finance receivables peaked at $3.8 billion, a 23% increase from the previous year. Management expressed confidence in the company's growth trajectory, supported by a favorable macroeconomic climate.
Enova's liquidity position remains formidable, with $1.2 billion in available funds. The company's strategic focus on their small business segment and optimism about maintaining lower rates as growth persists were also highlighted. These recent developments present a positive outlook for Enova International in the upcoming quarter.
InvestingPro Insights
The recent stock sale by Enova International's Chief Strategy Officer comes at a time when the company's financial metrics paint an interesting picture. According to InvestingPro data, Enova's market capitalization stands at $2.31 billion, with a price-to-earnings ratio of 13.74, suggesting a relatively modest valuation compared to some peers in the financial sector.
Notably, Enova has demonstrated strong financial performance, with revenue growth of 14.8% over the last twelve months as of Q3 2023, reaching $1.17 billion. The company's profitability is also impressive, boasting a gross profit margin of 81.8% for the same period.
InvestingPro Tips highlight that management has been aggressively buying back shares, which often signals confidence in the company's future prospects. Additionally, Enova has seen a significant price uptick over the last six months, with InvestingPro data showing a remarkable 43.91% price total return over that period.
These insights provide context to the executive's stock transaction and suggest that Enova is in a phase of growth and financial strength. For investors seeking a deeper understanding of Enova's potential, InvestingPro offers 10 additional tips that could further illuminate the company's outlook.
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