EZCORP (NASDAQ:EZPW) Trading 6.5% Higher – Here’s Why

Shares of EZCORP, Inc. (NASDAQ:EZPW) shot up 6.5% during trading on Tuesday . The stock traded as high as $33.12 and last traded at $33.5580. Approximately 90,025 shares traded hands during trading, a decline of 90% from the average session volume of 871,768 shares. The stock had previously closed at $31.51.

Wall Street Analysts Forecast Growth

EZPW has been the topic of several research reports. Weiss Ratings upgraded shares of EZCORP from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, April 8th. Citigroup reissued an “outperform” rating on shares of EZCORP in a research note on Monday, May 11th. Citizens Jmp upped their price target on shares of EZCORP from $33.00 to $39.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Canaccord Genuity Group set a $44.00 price objective on EZCORP in a report on Friday, May 8th. Finally, Wall Street Zen raised EZCORP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $37.25.

EZCORP Trading Up 5.1%

The company has a market cap of $2.04 billion, a price-to-earnings ratio of 17.96 and a beta of 0.63. The company’s 50 day moving average price is $31.89 and its 200 day moving average price is $26.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.52 and a current ratio of 4.71.

EZCORP (NASDAQ:EZPW) last released its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.22. The business 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%. Research analysts anticipate that EZCORP, Inc. will post 2 EPS for the current year.

Insider Transactions at EZCORP

In other EZCORP news, Director Pablo Lagos Espinosa sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the director owned 217,543 shares of the company’s stock, valued at $6,961,376. The trade was a 4.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason A. Kulas sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $33.56, for a total value of $671,200.00. Following the sale, the director owned 172,948 shares of the company’s stock, valued at approximately $5,804,134.88. This trade represents a 10.37% decrease in their position. The SEC filing for this sale provides additional information. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On EZCORP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of EZCORP by 23.6% in the first quarter. Royal Bank of Canada now owns 19,375 shares of the credit services provider’s stock valued at $286,000 after purchasing an additional 3,705 shares during the period. Intech Investment Management LLC acquired a new position in EZCORP in the 1st quarter valued at $1,646,000. JPMorgan Chase & Co. grew its stake in EZCORP by 47.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 183,291 shares of the credit services provider’s stock valued at $2,544,000 after buying an additional 59,339 shares during the last quarter. Rhumbline Advisers raised its holdings in EZCORP by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 73,064 shares of the credit services provider’s stock worth $1,014,000 after acquiring an additional 648 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in EZCORP in the 2nd quarter worth $1,718,000. Institutional investors and hedge funds own 99.83% of the company’s stock.

About EZCORP

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.