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Enova International: Dirt Cheap And Oversold On Regulatory Risks

Nov. 01, 2021 12:30 PM ETEnova International, Inc. (ENVA)3 Comments


  • Today, we are circling back on Enova International for the first time since November of last year.
  • The stock is up some 50% over that time but the company just posted stellar quarterly numbers that seemed to have flown under the radar of the market.
  • We update our investment thesis on this fast growing financial name in the paragraphs below.
  • Looking for more investing ideas like this one? Get them exclusively at The Busted IPO Forum. Learn More »

Real estate agent and customers shaking hands together celebrating finished contract after about home insurance and investment loan, handshake and successful deal

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A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”― Mark Twain

The last time we looked in on

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The Busted IPO Forum founded by Bret Jensen, focuses on stocks that have been public for 18 months to six years that are significantly under their offering price, AKA Busted IPOs.  Many times, after the initial analyst hyperbole has died and insider stock lockups have expired, these same companies can be had for .30 to .50 cents on the dollar from when the shares went public. 

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of ENVA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (3)

andersonfuller profile picture
A nicely written thesis but you left the negatives about the company to another previously written thesis which helped you paint a rosier picture.

The legislative risks of this company cannot be overstated. Further, if there were ever a time to shut down "predatory lending" (whether you think these companies are predatory or not is neither here nor there) it would be now because we have democrats in the senate and White House.

I am invested in ENVA and this industry so am not a bear, but I think it is disingenuous to skim over what is a massive negative that will likely hang over this company's head until there is a change in the senate's constitution, the president, or a bill is pushed forward which then fails leaving the industry alone for a few years. FYI, Senator Sherrod Brown is pushing for a bill which extends the 36% interest rate cape to all citizens of the US as opposed to just veterans. We must follow it closely to see if it will gain traction.
@andersonfuller - I agree with you. However, ENVA is a much different company now compared to just a few years ago as more than half the portfolio represent business loans and therefore outside of any proposed interest cap.
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