ENVA - Elevate Credit: Does A Positive Earnings Report Signal A Lucrative Entry Point?
I like to look at unpopular sectors as they can be rich hunting grounds for undervalued companies. The subprime financing market is one such sector. Coming into 2016, the share price of leading online subprime lender Enova International (ENVA) was falling to new lows driven by regulatory fears. This proved to be an excellent entry point as mentioned in my article here. One of Enova’s online competitors in the US and UK is Elevate Credit (ELVT) and since its IPO in April 2017 its share price has significantly underperformed its