EZCORP (NASDAQ:EZPW) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of EZCORP (NASDAQ:EZPW) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Ezcorp Inc. is engaged in establishing, acquiring, and operating pawnshops which function as convenient sources of consumer credit and as value-oriented specialty retailers of primarily previously owned merchandise. Through its lending function, the company makes relatively small, non-recourse loans secured by pledges of tangible personal property. The company contracts for a pawn service charge to compensate it for each pawn loan. “

EZPW has been the subject of several other reports. BidaskClub upgraded shares of EZCORP from a strong sell rating to a sell rating in a report on Monday, November 25th. ValuEngine upgraded EZCORP from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. Jefferies Financial Group downgraded EZCORP from a buy rating to a hold rating in a report on Tuesday, October 8th. Finally, B. Riley decreased their target price on EZCORP from $14.00 to $12.00 and set a buy rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $11.50.

Shares of NASDAQ EZPW traded up $0.03 during midday trading on Wednesday, hitting $5.25. 234,450 shares of the company traded hands, compared to its average volume of 458,263. EZCORP has a 12-month low of $4.77 and a 12-month high of $11.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 5.66 and a current ratio of 8.07. The stock has a 50-day moving average price of $5.30 and a 200 day moving average price of $7.69. The firm has a market cap of $289.42 million, a P/E ratio of 6.65 and a beta of 1.67.

A number of institutional investors have recently made changes to their positions in EZPW. Quantum Capital Management purchased a new stake in shares of EZCORP in the 3rd quarter worth about $30,000. Quantamental Technologies LLC grew its holdings in EZCORP by 373.3% in the second quarter. Quantamental Technologies LLC now owns 5,112 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 4,032 shares during the period. Bank of Montreal Can increased its stake in shares of EZCORP by 320.5% during the second quarter. Bank of Montreal Can now owns 5,630 shares of the credit services provider’s stock valued at $54,000 after purchasing an additional 4,291 shares in the last quarter. Ellington Management Group LLC bought a new position in shares of EZCORP during the second quarter valued at approximately $100,000. Finally, JPMorgan Chase & Co. increased its stake in shares of EZCORP by 15.5% during the second quarter. JPMorgan Chase & Co. now owns 16,148 shares of the credit services provider’s stock valued at $155,000 after purchasing an additional 2,171 shares in the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

EZCORP Company Profile

EZCORP, Inc provides pawn loans. It operates through three segments: U.S. Pawn, Latin America Pawn, and Other International. The company offers pawn loans, which are non-recourse loans collateralized by tangible personal property, including jewelry, consumer electronics, power tools, sporting goods, and musical instruments; and sells merchandise, such as collateral forfeited from pawn lending operations and used merchandise purchased from customers.

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