Investment firm Fourth Sail Capital LP has significantly increased its stake in EZCORP, Inc., boosting its position by 30.7% during the second quarter of the fiscal year. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now holds 1,251,362 shares of the pawn services provider after acquiring an additional 294,100 shares in the quarter. This investment constitutes approximately 3.6% of Fourth Sail Capital’s total holdings, making EZCORP its 14th largest position.
As of the latest reporting period, Fourth Sail Capital’s holdings in EZCORP were valued at around $17,369,000. Other institutional investors have also made noteworthy adjustments to their positions in EZCORP. For instance, USA Financial Formulas established a new position during the second quarter, estimated at roughly $31,000. Additionally, National Bank of Canada FI acquired a stake valued at $91,000 during the first quarter.
Another significant change came from Quarry LP, which increased its stake in EZCORP by an astonishing 652.4% in the first quarter, now owning 7,637 shares worth approximately $112,000. Other new positions were taken by Empirical Financial Services LLC, valued at $139,000, and Entropy Technologies LP, estimated at about $149,000. Notably, institutional investors and hedge funds collectively own 99.83% of EZCORP’s stock.
Insider Activity and Stock Performance
In related developments, Matthew W. Appel, a director at EZCORP, sold 9,038 shares on September 19, 2023, at an average price of $18.02, amounting to a total transaction value of $162,864.76. Following this sale, Appel retains 133,371 shares in the company, valued at approximately $2,403,345.42, marking a 6.35% decrease in his position. This transaction has been documented in a filing with the SEC, which can be accessed for further details.
Despite these changes, EZCORP’s stock has shown resilience, recently experiencing a 0.5% increase. Analysts from various firms have weighed in on the company’s prospects. Citizens JMP initiated coverage on EZCORP on November 3, 2023, designating a “market outperform” rating with a target price of $23.00. Similarly, Canaccord Genuity Group raised their target from $25.00 to $27.00, affirming a “buy” rating.
Analysts’ Perspectives and Company Overview
Reports from other analysts indicate a generally positive outlook for the stock. Weiss Ratings reaffirmed a “buy (b)” rating on October 8, 2023. Currently, one analyst has assigned a Strong Buy rating, five have issued Buy ratings, and two have classified the stock as Hold. Data from MarketBeat reveals an average rating of “Moderate Buy” with a consensus target price of $20.33.
EZCORP, Inc. operates primarily in the pawn services sector across the United States and Latin America. The company functions through three distinct segments: U.S. Pawn, Latin America Pawn, and Other Investments. It provides pawn loans backed by tangible personal property, including jewelry, consumer electronics, tools, sporting goods, and musical instruments.
For those interested in tracking further developments with EZCORP, access to detailed filings and insider trades is available through dedicated financial platforms.
