Short Interest in EZCORP, Inc. (NASDAQ:EZPW) Drops By 15.6%

Key Points

• Short interest in EZCORP fell 15.6% to 10,230,637 shares as of March 31, equal to about 16.9% of shares short and a days-to-cover ratio of 13.5 based on average volume.
• Insiders have been selling: Directors Gary Tillett sold 10,000 shares at $25.50 and Pablo Lagos Espinosa sold 20,000 shares at $25, with insiders selling 84,138 shares in the quarter and now owning 2.13% of the stock.
• Analysts have trended more positive recently (Canaccord raised its target to $40), and MarketBeat shows a consensus target of $29.50 with an overall rating of "Moderate Buy."

EZCORP, Inc. (NASDAQ:EZPW - Get Free Report) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 10,230,637 shares, a decline of 15.6% from the March 15th total of 12,116,170 shares. Based on an average trading volume of 756,454 shares, the days-to-cover ratio is currently 13.5 days. Approximately 16.9% of the shares of the company are short sold.

Insider Buying and Selling

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 sale, the director owned 133,483 shares in the company, valued at approximately $3,403,816.50. This trade represents a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pablo Lagos Espinosa sold 20,000 shares of EZCORP stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $25.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director directly owned 208,177 shares of the company's stock, valued at $5,204,425. The trade was a 8.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 84,138 shares of company stock worth $2,102,416. 2.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EZCORP

Hedge funds have recently modified their holdings of the stock. GHP Investment Advisors Inc. purchased a new position in EZCORP in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in EZCORP during the third quarter valued at about $29,000. Deutsche Bank AG lifted its stake in EZCORP by 533.5% during the fourth quarter. Deutsche Bank AG now owns 2,667 shares of the credit services provider's stock valued at $52,000 after buying an additional 2,246 shares in the last quarter. Covestor Ltd boosted its holdings in shares of EZCORP by 239.3% in the third quarter. Covestor Ltd now owns 2,728 shares of the credit services provider's stock worth $52,000 after buying an additional 1,924 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of EZCORP by 15,019.0% in the third quarter. Farther Finance Advisors LLC now owns 3,175 shares of the credit services provider's stock worth $60,000 after acquiring an additional 3,154 shares in the last quarter. 99.83% of the stock is owned by hedge funds and other institutional investors.

EZCORP Price Performance

Shares of EZPW traded up $0.55 during midday trading on Friday, reaching $30.54. The stock had a trading volume of 459,117 shares, compared to its average volume of 761,264. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.03 and a quick ratio of 4.69. The company has a market capitalization of $1.88 billion, a P/E ratio of 19.58 and a beta of 0.52. The firm's 50 day moving average price is $26.32 and its 200-day moving average price is $21.95. EZCORP has a 52 week low of $12.85 and a 52 week high of $30.87.

EZCORP (NASDAQ:EZPW - Get Free Report) last released its earnings results on Wednesday, February 4th. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.15. EZCORP had a return on equity of 12.37% and a net margin of 9.18%.The firm had revenue of $374.50 million for the quarter, compared to analyst estimates of $363.63 million. On average, analysts forecast that EZCORP will post 1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EZPW. Canaccord Genuity Group upped their target price on shares of EZCORP from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Tuesday, April 7th. Citizens Jmp boosted their price target on shares of EZCORP from $23.00 to $26.00 and gave the company a "market outperform" rating in a research note on Tuesday, January 20th. Stephens lifted their target price on EZCORP from $22.00 to $26.00 and gave the company an "equal weight" rating in a research report on Friday, February 6th. Zacks Research cut EZCORP from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Finally, Weiss Ratings raised shares of EZCORP from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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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