Assenagon Asset Management S.A. Sells 235,451 Shares of EZCORP, Inc. $EZPW

Key Points

• Assenagon Asset Management S.A. cut its EZCORP position by 36.6% in the first quarter, selling 235,451 shares and leaving it with 408,669 shares worth about $10.37 million.
• Several EZCORP insiders also sold stock, including Director Jason A. Kulas and Director Pablo Lagos Espinosa, while institutional investors still own 99.83% of the company.
• EZCORP reported stronger-than-expected quarterly results, with EPS of $0.58 versus the $0.36 consensus, and analysts currently maintain a Buy average rating with a $37.25 target price.

Assenagon Asset Management S.A. lessened its stake in EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 36.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 408,669 shares of the credit services provider's stock after selling 235,451 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.66% of EZCORP worth $10,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EZPW. Arizona State Retirement System increased its holdings in shares of EZCORP by 3.7% in the 4th quarter. Arizona State Retirement System now owns 15,960 shares of the credit services provider's stock worth $310,000 after buying an additional 569 shares during the last quarter. Rhumbline Advisers raised its holdings in EZCORP by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 73,064 shares of the credit services provider's stock valued at $1,014,000 after buying an additional 648 shares during the period. Stratos Wealth Partners LTD. lifted its position in EZCORP by 3.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 18,173 shares of the credit services provider's stock worth $353,000 after buying an additional 685 shares during the last quarter. CWM LLC lifted its position in EZCORP by 21.2% in the fourth quarter. CWM LLC now owns 4,146 shares of the credit services provider's stock worth $81,000 after buying an additional 724 shares during the last quarter. Finally, Ellsworth Advisors LLC boosted its stake in EZCORP by 2.2% during the fourth quarter. Ellsworth Advisors LLC now owns 44,792 shares of the credit services provider's stock worth $965,000 after buying an additional 971 shares during the period. Institutional investors own 99.83% of the company's stock.

Insider Transactions at EZCORP

In other EZCORP news, Director Jason A. Kulas sold 20,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $33.56, for a total transaction of $671,200.00. Following the sale, the director directly owned 172,948 shares of the company's stock, valued at approximately $5,804,134.88. This trade represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Pablo Lagos Espinosa sold 10,000 shares of the firm's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the director directly owned 217,543 shares in the company, valued at approximately $6,961,376. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.13% of the company's stock.

EZCORP Stock Down 2.3%

EZCORP stock opened at $32.52 on Friday. The company has a quick ratio of 3.52, a current ratio of 4.71 and a debt-to-equity ratio of 0.45. The firm has a market cap of $2.00 billion, a P/E ratio of 17.67 and a beta of 0.63. The business has a fifty day moving average of $32.16 and a two-hundred day moving average of $26.62. EZCORP, Inc. has a twelve month low of $13.07 and a twelve month high of $37.13.

EZCORP (NASDAQ:EZPW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.22. EZCORP had a net margin of 9.91% and a return on equity of 13.45%. The firm had revenue of $434.90 million for the quarter. On average, analysts forecast that EZCORP, Inc. will post 2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EZPW has been the subject of several analyst reports. Weiss Ratings upgraded shares of EZCORP from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, April 8th. Citizens Jmp upped their price target on shares of EZCORP from $33.00 to $39.00 and gave the company a "market outperform" rating in a report on Monday, May 11th. Citigroup reissued an "outperform" rating on shares of EZCORP in a research report on Monday, May 11th. Zacks Research raised shares of EZCORP from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of EZCORP from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $37.25.

About EZCORP

EZCORP, Inc is a specialty consumer finance company that provides pawn loans and retail merchandise programs primarily through its EZPAWN and Cash Converters brands. The company offers collateral-based loans secured principally by jewelry, electronics, musical instruments and other personal items, alongside check-cashing, money-transfer and bill-payment services. In addition to its pawn lending operations, EZCORP acquires previously pawned or consumer merchandise for resale through its “Sell-It-Now” platform and retail storefronts.

Founded in 1989 and headquartered in San Antonio, Texas, EZCORP operates in two principal geographic markets: the United States and Mexico.

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