Millennium Management LLC Acquires 260,085 Shares of EZCORP, Inc. $EZPW

Key Points

• Millennium Management LLC increased its holdings in EZCORP, Inc. by 21.8% during the first quarter, acquiring an additional 260,085 shares worth approximately $21.43 million.
• Institutional investors now own 99.83% of EZCORP's stock, with significant stake increases reported from firms like Boston Partners, which lifted its position by 289.7%.
• EZCORP's stock analysts maintain a consensus rating of "Moderate Buy" with a target price of $18.50, reflecting a positive outlook after a quarter where it reported earnings exceeding expectations.

Millennium Management LLC lifted its position in shares of EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,455,869 shares of the credit services provider's stock after purchasing an additional 260,085 shares during the quarter. Millennium Management LLC owned 2.65% of EZCORP worth $21,430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EZPW. Teza Capital Management LLC lifted its position in EZCORP by 6.6% in the 4th quarter. Teza Capital Management LLC now owns 14,425 shares of the credit services provider's stock valued at $176,000 after acquiring an additional 896 shares in the last quarter. GAMMA Investing LLC lifted its position in EZCORP by 60.4% during the 1st quarter. GAMMA Investing LLC now owns 5,062 shares of the credit services provider's stock worth $75,000 after buying an additional 1,906 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in EZCORP by 16.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 18,874 shares of the credit services provider's stock worth $278,000 after buying an additional 2,725 shares in the last quarter. New York State Teachers Retirement System lifted its position in EZCORP by 4.3% during the 1st quarter. New York State Teachers Retirement System now owns 80,099 shares of the credit services provider's stock worth $1,179,000 after buying an additional 3,279 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in EZCORP by 9.3% during the 1st quarter. HighTower Advisors LLC now owns 39,760 shares of the credit services provider's stock worth $585,000 after buying an additional 3,393 shares in the last quarter. 99.83% of the stock is owned by institutional investors.

EZCORP Stock Performance

EZPW traded up $0.82 on Thursday, reaching $17.89. The company had a trading volume of 1,556,610 shares, compared to its average volume of 581,586. EZCORP, Inc. has a fifty-two week low of $10.56 and a fifty-two week high of $17.90. The stock has a market cap of $1.09 billion, a P/E ratio of 13.98 and a beta of 0.63. The company's fifty day moving average is $15.52 and its 200 day moving average is $14.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 5.00 and a current ratio of 6.31.

EZCORP (NASDAQ:EZPW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.10. EZCORP had a net margin of 7.96% and a return on equity of 11.85%. The business had revenue of $310.98 million for the quarter, compared to analyst estimates of $302.25 million. As a group, analysts predict that EZCORP, Inc. will post 1.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of EZCORP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. Canaccord Genuity Group reissued a "buy" rating and set a $25.00 price target on shares of EZCORP in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $18.50.

Insider Buying and Selling

In related news, Director Matthew W. Appel sold 9,000 shares of the company's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.03, for a total value of $153,270.00. Following the transaction, the director owned 142,409 shares in the company, valued at approximately $2,425,225.27. This represents a 5.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.13% of the company's stock.

About EZCORP

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.