EZCORP (NASDAQ:EZPW) Reaches New 12-Month High - Here's What Happened

Key Points

• The stock for EZCORP reached a new 52-week high, trading at $18.21, with a volume of 324,867 shares during mid-day trading.
• Analysts have a consensus rating of "Moderate Buy" for EZCORP, with a price target averaging $18.50 and some firms projecting a target as high as $25.00.
• Institutional investors have significantly increased their stakes in EZCORP, with Boston Partners boosting its ownership by 289.7% in the first quarter.

EZCORP, Inc. (NASDAQ:EZPW - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $18.13 and last traded at $18.21, with a volume of 324867 shares trading hands. The stock had previously closed at $17.72.

Wall Street Analysts Forecast Growth

EZPW has been the topic of several research reports. Wall Street Zen upgraded EZCORP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Canaccord Genuity Group reissued a "buy" rating and issued a $25.00 target price on shares of EZCORP in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.50.

EZCORP Stock Performance

The stock has a market cap of $1.10 billion, a P/E ratio of 14.06 and a beta of 0.63. The company has a quick ratio of 5.00, a current ratio of 6.31 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $15.66 and a two-hundred day moving average price of $14.81.

EZCORP (NASDAQ:EZPW - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.10. EZCORP had a return on equity of 11.85% and a net margin of 7.96%.The firm had revenue of $310.98 million during the quarter, compared to analyst estimates of $302.25 million. On average, sell-side analysts forecast that EZCORP, Inc. will post 1.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew W. Appel sold 9,038 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $18.02, for a total transaction of $162,864.76. Following the completion of the transaction, the director directly owned 133,371 shares of the company's stock, valued at approximately $2,403,345.42. This represents a 6.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.13% of the company's stock.

Hedge Funds Weigh In On EZCORP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of EZCORP by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 73,064 shares of the credit services provider's stock worth $1,014,000 after purchasing an additional 648 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of EZCORP by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,362 shares of the credit services provider's stock valued at $185,000 after purchasing an additional 926 shares in the last quarter. GAMMA Investing LLC increased its stake in EZCORP by 60.4% during the 1st quarter. GAMMA Investing LLC now owns 5,062 shares of the credit services provider's stock worth $75,000 after buying an additional 1,906 shares in the last quarter. State of Alaska Department of Revenue increased its stake in EZCORP by 7.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 31,003 shares of the credit services provider's stock worth $429,000 after buying an additional 2,208 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in EZCORP during the 2nd quarter worth approximately $31,000. 99.83% of the stock is owned by institutional investors.

EZCORP Company Profile

EZCORP, Inc provides pawn services in the United States and Latin America. The company operates through three segments: U.S. Pawn, Latin America Pawn, and Other Investments. The company offers pawn loans collateralized by tangible personal property, jewelry, consumer electronics, tools, sporting goods, and musical instruments.