EZCORP (NASDAQ:EZPW) Shares Down 7.6% on Analyst Downgrade

EZCORP, Inc. (NASDAQ:EZPWGet Free Report)’s share price was down 7.6% during mid-day trading on Wednesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $32.88 and last traded at $32.74. Approximately 714,415 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 906,841 shares. The stock had previously closed at $35.44.

Several other brokerages have also recently weighed in on EZPW. Weiss Ratings reiterated a “buy (a-)” rating on shares of EZCORP in a research report on Monday. Citizens Jmp raised their price objective on shares of EZCORP from $33.00 to $39.00 and gave the company a “market outperform” rating in a research report on Monday, May 11th. Wall Street Zen cut shares of EZCORP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Roth Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of EZCORP in a report on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of EZCORP in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, EZCORP currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.80.

Get Our Latest Research Report on EZPW

Insiders Place Their Bets

In other news, Director Jason A. Kulas sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $33.56, for a total transaction of $671,200.00. Following the transaction, the director directly owned 172,948 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Also, Director Pablo Lagos Espinosa sold 10,000 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $35.54, for a total transaction of $355,400.00. Following the sale, the director owned 207,543 shares of the company’s stock, valued at approximately $7,376,078.22. This represents a 4.60% 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. In the last quarter, insiders sold 40,000 shares of company stock valued at $1,346,600. 2.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EZCORP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EZPW. Divisadero Street Capital Management LP raised its holdings in EZCORP by 39.5% in 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 during the period. Miller Global Investments LLC purchased a new position in EZCORP during the fourth quarter worth about $1,451,000. JPMorgan Chase & Co. increased its position in shares of EZCORP by 163.6% during the third quarter. JPMorgan Chase & Co. now owns 483,211 shares of the credit services provider’s stock valued at $9,200,000 after acquiring an additional 299,920 shares during the last quarter. L & S Advisors Inc acquired a new stake in shares of EZCORP during the fourth quarter valued at about $1,939,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of EZCORP in the 4th quarter valued at approximately $1,207,000. 99.83% of the stock is owned by hedge funds and other institutional investors.

EZCORP Stock Up 0.3%

The business’s 50 day moving average price is $32.79 and its 200-day moving average price is $27.57. 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 $2.10 billion, a PE ratio of 18.60 and a beta of 0.64.

EZCORP (NASDAQ:EZPWGet Free Report) last posted its earnings results on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.22. The firm had revenue of $434.90 million during the quarter. EZCORP had a net margin of 9.91% and a return on equity of 13.45%. As a group, equities research analysts forecast that EZCORP, Inc. will post 2 earnings per share for the current year.

EZCORP Company Profile

(Get Free Report)

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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