Tim wants to know why EZPW is getting hammered and if it's a buy opportunity.
Last night, another top exec departed:
Eric Fosse (49) — Mr. Fosse joined us in September 2004 as Vice President of EZMONEY Operations.He was promoted to President – EZMONEY Division in August 2007, to President, Pawn Americasin July 2009 and to President, North American Operations in March 2011. In April 2012, Mr. Fosse wasnamed President, U.S. Financial and Online Services. From 1991 to 2004, Mr. Fosse held variousoperating positions and ultimately served as a Regional Vice President of G&K Services, a $500 millionprovider of uniform and textile products.
This morning, Nomura downgraded it on valuation to neutral, as the stock had rallied too close to its 21 target. I am not sure that these two things are actually related.
I like the stock - very cheap, out of favor. I do have some concerns. While my 29.50 target would suggest a much bigger position than the current 3% or so for the Top 20, I am keeping it small until I see some execution.
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