EZCORP, Inc. $EZPW Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its EZCORP stake by 38.7% in the second quarter, selling 158,186 shares and retaining 250,483 shares worth approximately $8.66 million.
• EZCORP reported quarterly EPS of $0.47, exceeding estimates by $0.06, though revenue of $408.4 million fell short of the $425.83 million analyst forecast.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $38.80, compared with the stock’s reported $26.97 opening price.

Assenagon Asset Management S.A. decreased its holdings in EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 38.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,483 shares of the credit services provider's stock after selling 158,186 shares during the quarter. Assenagon Asset Management S.A. owned about 0.41% of EZCORP worth $8,659,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EZPW. Dimensional Fund Advisors LP grew its position in EZCORP by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,563,724 shares of the credit services provider's stock worth $69,209,000 after purchasing an additional 84,566 shares during the last quarter. Capital Research Global Investors increased its position in EZCORP by 47.5% in the 4th quarter. Capital Research Global Investors now owns 3,167,748 shares of the credit services provider's stock valued at $61,518,000 after acquiring an additional 1,019,622 shares during the period. Wasatch Advisors LP raised its stake in EZCORP by 5.4% during the 2nd quarter. Wasatch Advisors LP now owns 2,321,138 shares of the credit services provider's stock valued at $32,217,000 after acquiring an additional 118,641 shares during the last quarter. Millennium Management LLC raised its stake in EZCORP by 28.5% during the 3rd quarter. Millennium Management LLC now owns 1,975,421 shares of the credit services provider's stock valued at $37,612,000 after acquiring an additional 437,601 shares during the last quarter. Finally, Invesco Ltd. lifted its position in EZCORP by 8.6% during the 3rd quarter. Invesco Ltd. now owns 1,246,427 shares of the credit services provider's stock worth $23,732,000 after acquiring an additional 99,059 shares during the period. Institutional investors and hedge funds own 99.83% of the company's stock.

Insider Activity at EZCORP

In related news, Director Pablo Lagos Espinosa sold 10,000 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $35.54, for a total value of $355,400.00. Following the completion of the sale, the director owned 207,543 shares in the company, valued at $7,376,078.22. This trade represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.13% of the stock is owned by company insiders.

EZCORP Trading Down 0.8%

NASDAQ:EZPW opened at $26.97 on Wednesday. The stock has a fifty day moving average price of $31.69 and a two-hundred day moving average price of $29.17. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 13.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 3.45 and a current ratio of 4.81. EZCORP, Inc. has a 1 year low of $15.42 and a 1 year high of $37.13.

EZCORP (NASDAQ:EZPW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The credit services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. EZCORP had a net margin of 9.97% and a return on equity of 13.99%. The company had revenue of $408.40 million for the quarter, compared to analyst estimates of $425.83 million. As a group, sell-side analysts anticipate that EZCORP, Inc. will post 2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EZPW. Jefferies Financial Group lifted their target price on EZCORP from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Roth Capital restated a "buy" rating and set a $40.00 price target on shares of EZCORP in a research note on Friday, May 8th. Zacks Research downgraded EZCORP from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Canaccord Genuity Group set a $44.00 price objective on shares of EZCORP in a research report on Friday, May 8th. Finally, Citigroup reissued an "outperform" rating on shares of EZCORP in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, EZCORP currently has a consensus rating of "Moderate Buy" and an average price target of $38.80.

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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