Enova tumbles after scrapping Grasshopper bank acquisition

Enova International (ENVA) is down 25.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The sharp selloff appears tied to Enova’s decision to withdraw its bank regulatory applications connected to the planned acquisition of Grasshopper Bancorp. Even though Enova reaffirmed its 2026 outlook and said it plans to accelerate share repurchases, investors may be focusing on the loss of a major strategic expansion path into bank funding and infrastructure.

Details:

Enova announced on September 14, 2026 that it withdrew applications with the Office of the Comptroller of the Currency and the Federal Reserve related to the proposed Grasshopper transaction.

Management said the company still expects roughly 25% third-quarter revenue growth, around 30% third-quarter adjusted EPS growth, and full-year revenue growth of 20% to 25%.

Enova also said it intends to step up share repurchases and noted available capacity under both its note covenants and board authorization.

The Grasshopper deal had been positioned as a way to add digital banking capabilities and a bank platform, so ending the effort could be viewed as a setback to a previously highlighted strategic initiative.

Sources:

SEC, Enova Investor Relations, PR Newswire

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ENVA Insider Trading Activity

$ENVA insiders have traded $ENVA stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.

Here’s a breakdown of recent trading of $ENVA stock by insiders over the last 6 months:

DAVID FISHER (Executive Chairman) has made 0 purchases and 7 sales selling 90,385 shares for an estimated $19,303,845.
MARK TEBBE sold 20,000 shares for an estimated $4,027,360
WILLIAM M GOODYEAR has made 0 purchases and 2 sales selling 9,731 shares for an estimated $1,692,884.
STEVEN E CUNNINGHAM (Chief Executive Officer) has made 0 purchases and 2 sales selling 7,852 shares for an estimated $1,378,026.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ENVA Hedge Fund Activity

We have seen 241 institutional investors add shares of $ENVA stock to their portfolio, and 194 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PRICE T ROWE ASSOCIATES INC /MD/ added 441,715 shares (+108.4%) to their portfolio in Q2 2026, for an estimated $106,334,051
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 388,643 shares (+inf%) to their portfolio in Q2 2026, for an estimated $93,558,029
JPMORGAN CHASE & CO added 293,663 shares (+inf%) to their portfolio in Q2 2026, for an estimated $70,693,493
MANGROVE PARTNERS IM, LLC removed 285,396 shares (-99.6%) from their portfolio in Q2 2026, for an estimated $68,703,379
FMR LLC added 264,859 shares (+43.9%) to their portfolio in Q2 2026, for an estimated $63,759,507
DRIEHAUS CAPITAL MANAGEMENT LLC added 194,994 shares (+inf%) to their portfolio in Q2 2026, for an estimated $46,940,905
DIMENSIONAL FUND ADVISORS LP removed 176,435 shares (-16.7%) from their portfolio in Q2 2026, for an estimated $42,473,197

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ENVA Price Targets

Multiple analysts have issued price targets for $ENVA recently. We have seen 6 analysts offer price targets for $ENVA in the last 6 months, with a median target of $260.0.

Here are some recent targets:

John Hecht from Jefferies set a target price of $280.0 on 07/08/2026
Moshe Orenbuch from TD Cowen set a target price of $250.0 on 07/07/2026
Vincent Caintic from BTIG set a target price of $270.0 on 06/30/2026
David Scharf from Citizens set a target price of $270.0 on 06/26/2026
Michael Diana from Maxim Group set a target price of $200.0 on 04/27/2026
Kyle Joseph from Stephens & Co. set a target price of $210.0 on 04/24/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.