Kanen Wealth Management Urges EZCORP Board to Authorize Immediate Buyback Program

Published: 2025-06-03 13:50:22 ET EZPW

Published on 06/03/2025 at 13:50

On June 3, 2025, Kanen Wealth Management LLC announced that it has sent a letter to EZCORP urging the Company's board to authorize a $100 million share repurchase program immediately. Kanen Wealth Management stated that the Company?s previously raised $300 million to settle convertible notes in cash but opted to settle in equity, leading to unexpected dilution as the stock price increased, and Kanen had previously suggested a $200 million buyback in December 2022 when the stock was trading at $8.00 per share, but only $33 million was repurchased over 2.5 years. In addition, Kanen Wealth Management stated that the Company is in a strong financial position with excess cash and a fortified balance sheet, making it an opportune time for a buyback, and it trades at a lower multiple compared to its peer, FirstCash, highlighting a credibility gap that could be addressed through the buyback.

Kanen emphasizes the urgency of the buyback to restore credibility and confidence among shareholders, employees, analysts, and the broader investment community.