Fourth Sail Capital LP has significantly expanded its investment in EZCORP, Inc. (NASDAQ: EZPW), increasing its shareholding by 30.7% during the second quarter of 2023. This information was disclosed in a recent filing with the U.S. Securities and Exchange Commission (SEC). Following this transaction, Fourth Sail Capital now holds 1,251,362 shares of the credit services provider, after acquiring an additional 294,100 shares during the quarter.
EZCORP comprises approximately 3.6% of Fourth Sail Capital’s total portfolio, positioning it as the fund’s 14th largest investment. As of the latest reporting period, Fourth Sail Capital’s holdings in EZCORP were valued at $17.4 million.
Institutional Investors Increase Holdings
Other institutional investors have also shown increased interest in EZCORP. USA Financial Formulas initiated a new position in the company during the second quarter, valued at approximately $31,000. Additionally, National Bank of Canada FI acquired a new stake worth $91,000 in the first quarter.
Notably, Quarry LP expanded its position in EZCORP by an impressive 652.4% during the first quarter, now owning 7,637 shares valued at $112,000. Similarly, Empirical Financial Services LLC (operating as Empirical Wealth Management) purchased a new position in the second quarter worth $139,000, while Entropy Technologies LP acquired shares valued at about $149,000 in the first quarter. Collectively, hedge funds and institutional investors hold 99.83% of the stock.
Recent Insider Activity and Analyst Ratings
In related news, Matthew W. Appel, a director at EZCORP, sold 9,038 shares on September 19, 2023, at an average price of $18.02, totaling $162,864.76. Following this transaction, he retains 133,371 shares in the company, valued at approximately $2.4 million. This sale represents a 6.35% reduction in his holdings, as disclosed in an SEC filing.
Wall Street analysts have recently provided optimistic forecasts for EZCORP. Citizens JMP initiated coverage with a “market outperform” rating and a target price of $23.00 on November 3, 2023. Canaccord Genuity Group raised its target from $25.00 to $27.00, maintaining a “buy” rating. Similarly, Citigroup also began coverage with a “market outperform” rating.
Currently, one analyst has rated EZCORP as a “Strong Buy,” five have issued “Buy” ratings, and two have assigned a “Hold” rating. According to MarketBeat, the stock holds an average rating of “Moderate Buy” with a consensus target price of $20.33.
EZCORP, Inc. provides pawn services across the United States and Latin America, operating through three primary segments: U.S. Pawn, Latin America Pawn, and Other Investments. The company offers pawn loans secured by various tangible personal property, including jewelry, consumer electronics, tools, sporting goods, and musical instruments.
For more details on recent transactions and insights into EZCORP, investors can visit HoldingsChannel.com for the latest 13F filings and insider trades.
