May 13, 2014, 3:09 PM
- The street downgrades Bank Financial (BFIN -2.3%), Fidus Investment (FDUS +1.6%), Flagstar Bancorp (FBC -1.3%), TCP Capital (TCPC +0.1%) to Hold.
- FIG Partners downgrades 1st Century Bancshares (FCTY +2.5%) to Market Perform after bank reported earnings last week.
- Stephens downgrades DFC Global (DLLR +0.1%) to Equal weight .
- Douglas Emmett (DEI -1.5%) is downgraded by Wells Fargo to Market Perform.
- Gilford Securities downgrades Horizon Technology Finance (HRZN -0.2%) to Neutal.
- Green Dot (GDOT -0.2%) is upgraded by Citigroup and Portales Partners to Sector Perform.
May 12, 2014, 5:48 PM
Apr. 10, 2014, 5:33 PM
- A winning segment amid today's carnage was pawn shops and payday lenders, sparked by Cash America's (CSH) plan to consider spinning off its online lending business.
- CSH said that while a final decision has not been made, the separation of its Enova International business would create a publicly traded company with ~$766M in revenue as of Dec. 31; in the event of a spinoff, CSH would operate the storefront pawn lending businesses, while Enova would run the online lending business with operations in the U.S., U.K., Australia and Canada.
- CSH also raised its Q1 EPS guidance to $1.50-$1.55 from its prior $1.25 estimate, thanks to lower consumer loan losses at the online business, as well as improved sales and operating efficiencies at its storefront retail business.
- In today's trade: CSH +12.3%, EZPW +4.4%, FCFS +1.4%, DLLR -0.2%.
Apr. 2, 2014, 9:17 AM
Apr. 2, 2014, 8:37 AM
Mar. 14, 2014, 12:21 PM
- World Acceptance Corp. (WRLD +3.9%) is bouncing from yesterday's plunge on its receipt of a civil investigative demand (CID) from the CFPB, but today it's the turn of Springleaf Financial (LEAF -4.8%) and Santander Consumer (SC -1.3%) to head south.
- World's "sleazy" marketing tactics have been talked about for some time from Citron Research to Whitney Tilson to Herb Greenberg. Shorting the stock is a favored play of the hedge fund crowd which has been pushing D.C. to move against the company for several months.
- Also moving: CSH, EZPW, DLLR, ATLC
Feb. 3, 2014, 8:56 AM
- Lowered guidance and reduced visibility in the core U.K. market have Wells Fargo's Joel Houck cutting DFC Global (DLLR) to Market Perform from Outperform, with the price target range lowered to $7-$8 from $14-$16.
- "With the high cost debt (likely 300-400 bps above market) earnings revisions are now hyper-sensitive to operating results (given higher fixed charge leverage). While this could provide for meaningful upside in the event that operations turn, we remain concerned, due to the limited visibility, that operations may deteriorate further in the U.K. Additionally, the Canadian Dollar continues to weaken which could further place pressure on the profitability of DLLR’s Canadian operations."
- Shares +0.4% premarket after tumbling nearly 30% on Friday, post-earnings.
Jan. 31, 2014, 12:46 PM
Jan. 31, 2014, 9:09 AM
Jan. 30, 2014, 5:36 PM
Jan. 30, 2014, 4:18 PM
Jan. 30, 2014, 12:10 AM
Jan. 29, 2014, 5:35 PM
Jan. 17, 2014, 11:02 AM
- World Acceptance Corporation (WRLD -3.2%) slides on heavy volume after Whitney Tilson reiterates his short in the specialty consumer lender, calling it among the "scummiest, most predatory financial companies."
- Earlier coverage of WRLD
- Others of note: Springleaf Financial (LEAF -0.4%), Atlanticus Holdings (ATLC -1.8%), Cash America (CSH +0.4%), EZCORP (EZPW -0.8%), DFC Global (DLLR -2.5%).
Nov. 22, 2013, 5:36 PM
Nov. 22, 2013, 12:57 PM
DFC Global Corp is a non-bank provider of alternative financial services, unsecured short term consumer loans, secured pawn loans, check cashing, gold buying, money transfers & reloadable prepaid debit cards, serving unbanked & under-banked consumers.
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