Have Hedge Funds Found A Winner in Enova International Inc (ENVA)?

As aggregate interest increased, key hedge funds were leading the bulls’ herd. McKinley Capital Management, managed by Robert B. Gillam, created the most valuable position in Enova International Inc (NYSE:ENVA). McKinley Capital Management had $3.2 million invested in the company at the end of the quarter. Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital also made a $0.2 million investment in the stock during the quarter. The only other fund with a brand new ENVA position is Ken Griffin’s Citadel Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Enova International Inc (NYSE:ENVA) but similarly valued. We will take a look at Hawaiian Telcom HoldCo Inc (NASDAQ:HCOM), HENNESS CAPITAL ACQUISITION CORP II (NASDAQ:HCAC), MediciNova, Inc. (NASDAQ:MNOV), and CSS Industries, Inc. (NYSE:CSS). This group of stocks’ market valuations resemble ENVA’s market valuation.

As you can see these stocks had an average of 7.25 hedge funds with bullish positions and the average amount invested in these stocks was $26 million. That figure was $75 million in ENVA’s case. HENNESS CAPITAL ACQUISITION CORP II (NASDAQ:HCAC) is the most popular stock in this table. On the other hand MediciNova, Inc. (NASDAQ:MNOV) is the least popular one with only 3 bullish hedge fund positions. Compared to these stocks Enova International Inc (NYSE:ENVA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None