Bastion Asset Management Inc. Reduces Stock Position in EZCORP, Inc. (NASDAQ:EZPW)

Key Points

• Bastion Asset Management Inc. reduced its holdings in EZCORP, Inc. by 14.6%, now owning 227,849 shares, representing about 1.7% of their total assets.
• Insider transactions revealed that COO John Blair Jr. Powell sold 42,500 shares, decreasing his ownership by 18.32% to maintain 189,483 shares.
• Analysts have generally positive views on EZCORP, with the stock receiving ratings ranging from "buy" to "strong buy," and a consensus target price of $18.50.

Bastion Asset Management Inc. trimmed its position in EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,849 shares of the credit services provider's stock after selling 39,026 shares during the period. EZCORP accounts for approximately 1.7% of Bastion Asset Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Bastion Asset Management Inc. owned about 0.41% of EZCORP worth $3,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EZPW. Royce & Associates LP grew its stake in EZCORP by 14.1% during the 1st quarter. Royce & Associates LP now owns 751,515 shares of the credit services provider's stock valued at $11,062,000 after purchasing an additional 93,000 shares during the last quarter. Carnegie Investment Counsel purchased a new stake in EZCORP in the first quarter valued at approximately $205,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in EZCORP in the 1st quarter worth approximately $491,000. Jackson Creek Investment Advisors LLC acquired a new position in EZCORP in the 1st quarter worth approximately $1,730,000. Finally, Triasima Portfolio Management inc. purchased a new position in EZCORP during the 1st quarter worth approximately $736,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on EZPW shares. Canaccord Genuity Group increased their price objective on shares of EZCORP from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen raised EZCORP from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 14th. Stephens reaffirmed an "equal weight" rating and set a $17.00 target price on shares of EZCORP in a report on Tuesday, May 20th. Finally, BTIG Research began coverage on EZCORP in a report on Wednesday, May 14th. They issued a "neutral" rating for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $18.50.

EZCORP Price Performance

NASDAQ EZPW traded down $0.08 during trading hours on Monday, reaching $13.31. The company's stock had a trading volume of 560,915 shares, compared to its average volume of 627,776. The firm has a market capitalization of $732.18 million, a price-to-earnings ratio of 11.18 and a beta of 0.52. The company's 50-day moving average is $13.60 and its two-hundred day moving average is $13.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.04 and a quick ratio of 3.25. EZCORP, Inc. has a 1-year low of $10.03 and a 1-year high of $16.60.

EZCORP (NASDAQ:EZPW - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The credit services provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. EZCORP had a net margin of 7.45% and a return on equity of 11.53%. The firm had revenue of $306.32 million for the quarter, compared to analysts' expectations of $310.35 million. On average, equities analysts predict that EZCORP, Inc. will post 1.3 EPS for the current year.

Insider Activity at EZCORP

In other news, COO John Blair Jr. Powell sold 42,500 shares of EZCORP stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $14.55, for a total value of $618,375.00. Following the sale, the chief operating officer directly owned 189,483 shares of the company's stock, valued at $2,756,977.65. The trade was a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 86,000 shares of company stock worth $1,220,010 over the last ninety days. 2.13% of the stock is owned by corporate insiders.

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.