David Fisher, the Chief Executive Officer of Enova International, Inc. (NYSE:ENVA), recently sold 20,000 shares of the company's common stock, according to a regulatory filing. The transactions occurred over two days, on December 3 and December 4, 2024, with a total sale value of approximately $2.12 million. The sale comes as Enova, currently valued at $2.78 billion, has demonstrated remarkable performance with a 145% return over the past year. According to InvestingPro analysis, the company maintains a "GREAT" financial health score.
The shares were sold at prices ranging from $105.50 to $106.93 per share. Following these transactions, Fisher retains direct ownership of 359,905 shares of Enova International. The sales were executed in multiple trades, and the reported prices reflect the weighted average sale price for each day. While Fisher reduced his position, InvestingPro data reveals management has been actively buying back shares, and the stock currently trades near its 52-week high of $108.15. Discover 12 additional key insights about Enova with an InvestingPro subscription, including detailed valuation metrics and growth forecasts.
In other recent news, Enova International has made significant strides in its financial performance and strategic initiatives. The company recently expanded its asset-backed revolving debt facility to $236.8 million, a move aimed at bolstering its lending capabilities and financial flexibility. This amendment, known as the "Tenth Amendment," was executed with Truist Bank, Computershare Trust Company, and Vervent Inc., extending the revolving period and maturity dates for both Class A and Class B Revolving Loans.
On the earnings front, Enova International reported strong results in its recent third-quarter earnings call. The company highlighted a record $1.6 billion in loan originations, marking a 28% year-over-year increase, and revenue of $690 million, a 25% surge compared to the same period last year. Small business loans surpassed the $1 billion mark for the first time, indicating a 33% year-over-year growth.
The company also showcased a robust profitability trajectory with adjusted EBITDA and EPS growing by 42% and 63%, respectively. In addition, Enova International maintained a strong liquidity position with nearly $1.2 billion in available funds and announced a share repurchase program valued at $300 million.
These recent developments reflect Enova International's ongoing efforts to manage capital and liquidity effectively, while maintaining a diverse portfolio comprising 62% small business products and 38% consumer loans. The company's financial health remains robust, demonstrating the effectiveness of its strategic initiatives and operational efficiency.
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