EZCORP (NASDAQ:EZPW) Shares Up 10.7% – Here’s Why

Shares of EZCORP, Inc. (NASDAQ:EZPW) shot up 10.7% on Friday . The stock traded as high as $32.07 and last traded at $31.83. Approximately 597,268 shares traded hands during trading, a decline of 35% from the average session volume of 922,863 shares. The stock had previously closed at $28.76.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Canaccord Genuity Group set a $44.00 target price on EZCORP in a report on Friday, May 8th. Wall Street Zen lowered shares of EZCORP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Citigroup reaffirmed an “outperform” rating on shares of EZCORP in a research note on Monday, May 11th. Citizens Jmp boosted their target price on shares of EZCORP from $33.00 to $39.00 and gave the stock a “market outperform” rating in a report on Monday, May 11th. Finally, Jefferies Financial Group increased their target price on shares of EZCORP from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $38.80.

EZCORP Stock Up 12.6%

The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 16.35 and a beta of 0.66. The company has a quick ratio of 3.45, a current ratio of 4.81 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average of $31.37 and a two-hundred day moving average of $29.55.

EZCORP (NASDAQ:EZPW) last announced its quarterly earnings data on Wednesday, August 5th. The credit services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. EZCORP had a return on equity of 13.99% and a net margin of 9.97%.The firm had revenue of $408.40 million during the quarter, compared to analyst estimates of $425.83 million. As a group, sell-side analysts anticipate that EZCORP, Inc. will post 2 earnings per share for the current year.

Insider Activity at EZCORP

In related news, Director Pablo Lagos Espinosa sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 207,543 shares of the company’s stock, valued at approximately $7,376,078.22. The trade was a 4.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On EZCORP

Institutional investors have recently modified their holdings of the stock. Triumph Capital Management increased its stake in shares of EZCORP by 4.7% in the second quarter. Triumph Capital Management now owns 14,324 shares of the credit services provider’s stock worth $495,000 after acquiring an additional 642 shares during the last quarter. Navellier & Associates Inc. grew its stake in EZCORP by 203.0% in the second quarter. Navellier & Associates Inc. now owns 65,347 shares of the credit services provider’s stock valued at $2,259,000 after purchasing an additional 43,780 shares in the last quarter. Ancora Advisors LLC acquired a new position in EZCORP in the 2nd quarter worth about $6,452,000. Harbor Investment Advisory LLC acquired a new position in EZCORP in the 2nd quarter worth about $31,000. Finally, City Center Advisors LLC purchased a new stake in shares of EZCORP during the 2nd quarter worth about $214,000. 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.