Fourth Sail Capital LP Decreases Stock Holdings in EZCORP, Inc. $EZPW

Key Points

• Fourth Sail Capital LP cut its EZCORP stake by 26.3% in the fourth quarter, selling 309,280 shares and leaving it with 868,717 shares valued at about $16.9 million.
• EZCORP reported stronger-than-expected quarterly results, posting $0.58 EPS versus the $0.36 consensus estimate on revenue of $434.9 million.
• Analysts remain upbeat on the stock, with a consensus Buy rating and average target price of $37.25, while recent insider sales by directors were also disclosed.

Fourth Sail Capital LP reduced its stake in shares of EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 26.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 868,717 shares of the credit services provider's stock after selling 309,280 shares during the quarter. EZCORP makes up 2.7% of Fourth Sail Capital LP's holdings, making the stock its 20th largest position. Fourth Sail Capital LP owned 1.41% of EZCORP worth $16,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Divisadero Street Capital Management LP increased its position in EZCORP by 39.5% during the 3rd quarter. Divisadero Street Capital Management LP now owns 138,505 shares of the credit services provider's stock valued at $2,637,000 after buying an additional 39,195 shares in the last quarter. Miller Global Investments LLC acquired a new position in EZCORP during the 4th quarter valued at about $1,451,000. JPMorgan Chase & Co. increased its position in EZCORP by 163.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 483,211 shares of the credit services provider's stock valued at $9,200,000 after buying an additional 299,920 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in EZCORP during the 4th quarter valued at about $1,207,000. Finally, L & S Advisors Inc acquired a new position in EZCORP during the 4th quarter valued at about $1,939,000. 99.83% of the stock is currently owned by hedge funds and other institutional investors.

EZCORP Stock Up 1.6%

Shares of EZPW stock opened at $31.25 on Friday. The stock's 50-day simple moving average is $31.42 and its 200-day simple moving average is $25.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.52 and a current ratio of 4.71. The firm has a market capitalization of $1.92 billion, a PE ratio of 16.98 and a beta of 0.63. EZCORP, Inc. has a fifty-two week low of $12.85 and a fifty-two week high of $37.13.

EZCORP (NASDAQ:EZPW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.22. The business 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%. Equities analysts expect that EZCORP, Inc. will post 2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EZPW. Canaccord Genuity Group set a $44.00 target price on EZCORP in a research report on Friday, May 8th. Citizens Jmp upped their target price on EZCORP from $33.00 to $39.00 and gave the company a "market outperform" rating in a research report on Monday, May 11th. Zacks Research raised EZCORP from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Citigroup reaffirmed an "outperform" rating on shares of EZCORP in a research report on Monday, May 11th. Finally, Wall Street Zen raised EZCORP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $37.25.

Insider Transactions at EZCORP

In other 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 value of $671,200.00. Following the transaction, the director directly owned 172,948 shares of the company's stock, valued at approximately $5,804,134.88. This represents a 10.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pablo Lagos Espinosa sold 10,000 shares of the stock in a transaction dated 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 $6,961,376. This 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. 2.13% of the stock is currently owned by corporate insiders.

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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