FCFS seems quite expensive. Even taking into consideration of the CSH merger, I can;t make sense of the price level...any thoughts? Regardless, for folks who want to reduce their risk, they can always hedge their EZPW positions by going short FCFS.
market cap is now under $420mm. management capital allocation grade: F
stock price 3 years ago: $24
here's the shareholders as of 12/31/12...don't see anything that stands out, do you?
Number of shares
Change Capital International
Holdings, B.V. (EZCORP)
Invex Trusts F/1220 and F/1221
Javier Creel Moreno
Semper Augustus, B.V.
Mónica Cecilia Rivera Fernández
Jerónimo Javier de Yturbe Sordo
Grupo Selecto & SIM-A, S.A.P.I. de
Brainbeam , S. de R.L. de C.V.
thx junky...just saw it: "Our remaining shareholders have a put option with respect to their remaining shares of Crediamigo. Each seller has the right to sell their Crediamigo shares to EZCORP, through its 100% owned subsidiary, during the exercise period commencing on January 30, 2014 and ending on January 30, 2017, with no more than 50% of the seller’s shares being sold within a consecutive twelve-month period."
I'd like to see what the original agreement looks like that allowed them to put their shares at such a high price just prior to the valuation crashing. What a disaster of a trade. The original Mexican shareholders get out and the Austin guys are left holding the bag? Strange that such a business would deteriorate so quickly. Real money was lost here and a better accounting for it would be nice.
On September 1, 2015, EZCORP officially announced it had increased its ownership stake in Grupo Finmart to 94%. The purchase price for the additional 18% interest was $29 million in cash, thus giving Finmart a total market value of $161 million as of September 2015.
By 5/10/16, U.S. GAAP valuation of Grupo Finmart of $46.5m; Grupo Finmart non-cash goodwill impairment charge of $73.9m, zero goodwill remaining.
How did this investment deteriorate so quickly?
What did management miss when they made their additional 18% investment?
Please fill me in on the back story. I like the looks of EZPW, but this fact set needs explaining.
Positive events keep on coming. EZCP is currently trading at tangible book value. Too cheap assuming GF sale goes off at or better than expected.
doesn't seem like the IP is as valuable as he claimed it was. seems like a pile of dog poop wrapped up in a corporate structure with a level of legitimacy on par the forecasts from the psychic hotline.
throw the coleman into the coal mine. hillary for jail, eberwein for jail, coleman for the coal mines!!!
5/25/16, Elon sells 2,782,670 TSLA shares at $213.22 per share.
6/21/16 Elon does something really stupid that causes the shares to drop 11%...he honestly could not have thought that the shares would rally.
6/22/16 I wish that I had this information beforehand as well!!!!
CarMax's weak Q1 and management comments suggest continued pressure on used car prices, and thus pressure on both the top and bottom lines for banks most exposed to the auto sector. I believe that this effects the tail risk for the cars owned and rented out by Hertz. I believe they sell the cars after a few years of service to keep the fleet relatively modern. Hence, lower used car prices means lower expected revenues for HTZ.
Dumb deal. Self dealing. Valley firms don't care about shareholders!!!!
Does an astute investor keep putting good money behind bad or is there something more to the story.....propublica
balance sheet looks way to conservative. are they keeping the firepower dry for potential acquisitions? anything in the pipeline? otherwise, lets step up with the buyback and ramp up eps!