EZCORP, Inc. $EZPW is First Wilshire Securities Management Inc.'s 2nd Largest Position

Key Points

• First Wilshire Securities Management cut its EZCORP stake by 20.5% in Q4, but the fund still holds 1.74 million shares worth about $33.8 million, making EZCORP its second-largest position.
• Several other institutional investors also adjusted their positions, and overall hedge funds and institutions own 99.83% of EZCORP’s stock.
• EZCORP reported better-than-expected quarterly earnings of $0.58 per share versus $0.36 estimated, while analysts currently rate the stock a Buy on average with a $37.25 price target.

First Wilshire Securities Management Inc. lessened its stake in shares of EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,739,001 shares of the credit services provider's stock after selling 448,733 shares during the quarter. EZCORP makes up approximately 8.5% of First Wilshire Securities Management Inc.'s holdings, making the stock its 2nd largest holding. First Wilshire Securities Management Inc. owned 2.86% of EZCORP worth $33,771,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EZPW. Royal Bank of Canada increased its position in EZCORP by 23.6% during the 1st quarter. Royal Bank of Canada now owns 19,375 shares of the credit services provider's stock worth $286,000 after purchasing an additional 3,705 shares in the last quarter. Intech Investment Management LLC purchased a new stake in EZCORP in the 1st quarter valued at about $1,646,000. JPMorgan Chase & Co. grew its holdings in EZCORP by 47.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 183,291 shares of the credit services provider's stock valued at $2,544,000 after buying an additional 59,339 shares during the period. Rhumbline Advisers grew its holdings in EZCORP by 0.9% in 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. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in EZCORP in the 2nd quarter valued at about $1,718,000. Hedge funds and other institutional investors own 99.83% of the company's stock.

Insider Activity at EZCORP

In other EZCORP news, Director Jason A. Kulas sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.56, for a total value of $671,200.00. Following the transaction, the director directly owned 172,948 shares of the company's stock, valued at $5,804,134.88. This represents a 10.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pablo Lagos Espinosa sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the director directly owned 217,543 shares in the company, valued at approximately $6,961,376. The trade was 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.

Analyst Upgrades and Downgrades

Several research firms have commented on EZPW. Zacks Research upgraded EZCORP from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Citigroup restated an "outperform" rating on shares of EZCORP in a report on Monday, May 11th. Weiss Ratings upgraded EZCORP from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, April 8th. Roth Mkm reaffirmed a "buy" rating and issued a $40.00 price objective on shares of EZCORP in a research note on Friday, May 8th. Finally, Wall Street Zen raised EZCORP from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $37.25.

EZCORP Stock Performance

EZCORP stock opened at $30.75 on Friday. The stock's 50 day moving average price is $31.32 and its 200 day moving average price is $25.70. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.71 and a beta of 0.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.52 and a current ratio of 4.71. EZCORP, Inc. has a one year low of $12.85 and a one year high of $37.13.

EZCORP (NASDAQ:EZPW - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.36 by $0.22. The firm had revenue of $434.90 million for the quarter. EZCORP had a return on equity of 13.45% and a net margin of 9.91%. As a group, sell-side analysts expect that EZCORP, Inc. will post 2 EPS for the current fiscal year.

EZCORP Company Profile

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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