EZCORP (NASDAQ:EZPW) Stock Price Down 7.6% – Here’s Why

EZCORP, Inc. (NASDAQ:EZPW) shares fell 7.6% during mid-day trading on Wednesday . The company traded as low as $32.88 and last traded at $32.74. Approximately 714,415 shares traded 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on EZPW. Canaccord Genuity Group set a $44.00 price target on shares of EZCORP in a research report on Friday, May 8th. Weiss Ratings reiterated a “buy (a-)” rating on shares of EZCORP in a report on Monday. Citizens Jmp boosted their price objective on EZCORP from $33.00 to $39.00 and gave the stock a “market outperform” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of EZCORP from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Citigroup reaffirmed an “outperform” rating on shares of EZCORP in a research report on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $38.80.

EZCORP Stock Performance

The company has a market cap of $2.03 billion, a P/E ratio of 17.94 and a beta of 0.64. 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 50 day moving average price of $32.75 and a 200-day moving average price of $27.37.

EZCORP (NASDAQ:EZPW) last issued its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts predict that EZCORP, Inc. will post 2 EPS for the current year.

Insider Activity at EZCORP

In other EZCORP news, Director Jason A. Kulas sold 20,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $33.56, for a total value of $671,200.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pablo Lagos Espinosa sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the sale, the director owned 217,543 shares in the company, valued at $6,961,376. This represents a 4.39% 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. 2.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On EZCORP

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

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.