Western Standard LLC Reduces Stake in EZCORP, Inc. $EZPW

Key Points

• Western Standard LLC reduced its stake in EZCORP by 24.5% in Q4, selling 130,000 shares and now holding 400,000 shares valued at about $7.77M (0.66% of the company), making it the fund's 10th-largest position.
• EZCORP beat estimates, reporting $0.58 EPS versus $0.36 expected and $434.9M in revenue; the company has a $2.03B market cap, a PE of 17.87, and a 1-year price range of $12.85–$37.13.
• Insider selling and analyst views: insiders sold 84,138 shares (~$2.1M) in the last three months (including 30,000 by two directors), while analysts' consensus is a "Moderate Buy" with an average price target of $29.50 (Canaccord raised its target to $40).

Western Standard LLC decreased its position in shares of EZCORP, Inc. (NASDAQ:EZPW - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,000 shares of the credit services provider's stock after selling 130,000 shares during the period. EZCORP accounts for 3.6% of Western Standard LLC's holdings, making the stock its 10th biggest position. Western Standard LLC owned 0.66% of EZCORP worth $7,768,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EZPW. GHP Investment Advisors Inc. purchased a new stake in EZCORP during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in EZCORP during the 3rd quarter valued at about $29,000. Covestor Ltd increased its position in EZCORP by 239.3% during the 3rd quarter. Covestor Ltd now owns 2,728 shares of the credit services provider's stock valued at $52,000 after buying an additional 1,924 shares in the last quarter. Farther Finance Advisors LLC increased its position in EZCORP by 15,019.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,175 shares of the credit services provider's stock valued at $60,000 after buying an additional 3,154 shares in the last quarter. Finally, CWM LLC increased its position in EZCORP by 126.3% during the 3rd quarter. CWM LLC now owns 3,422 shares of the credit services provider's stock valued at $65,000 after buying an additional 1,910 shares in the last quarter. Hedge funds and other institutional investors own 99.83% of the company's stock.

EZCORP Price Performance

Shares of EZPW opened at $32.88 on Friday. The firm has a market capitalization of $2.03 billion, a PE ratio of 17.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.03 and a quick ratio of 4.69. EZCORP, Inc. has a 1-year low of $12.85 and a 1-year high of $37.13. The company's fifty day moving average price is $28.03 and its 200-day moving average price is $23.13.

EZCORP (NASDAQ:EZPW - Get Free Report) last issued its earnings results on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.22. EZCORP had a net margin of 9.91% and a return on equity of 13.82%. The firm had revenue of $434.90 million during the quarter. On average, equities research analysts predict that EZCORP, Inc. will post 1.8 EPS for the current year.

Insider Buying and Selling at EZCORP

In related news, Director Gary Tillett sold 10,000 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $25.50, for a total transaction of $255,000.00. Following the completion of the transaction, the director owned 133,483 shares of the company's stock, valued at $3,403,816.50. This trade represents a 6.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pablo Lagos Espinosa sold 20,000 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $25.00, for a total transaction of $500,000.00. Following the transaction, the director directly owned 208,177 shares of the company's stock, valued at approximately $5,204,425. This trade represents a 8.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 84,138 shares of company stock worth $2,102,416. 2.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on EZPW. Weiss Ratings raised EZCORP from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, April 8th. Citizens Jmp lifted their price objective on shares of EZCORP from $23.00 to $26.00 and gave the stock a "market outperform" rating in a research note on Tuesday, January 20th. Citigroup reissued an "outperform" rating on shares of EZCORP in a report on Tuesday, January 20th. Wall Street Zen lowered shares of EZCORP from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of EZCORP from $34.00 to $40.00 and gave the company a "buy" rating in a report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, EZCORP presently has an average rating of "Moderate Buy" and a consensus price target of $29.50.

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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