In my original analysis, I gave credit to the company as one of the few places where people faced with money problems in difficult times would be able to find some short term liquidity. The stock has been languishing all year even though the company has no debt, remains profitable, and is cash-flowing nicely. Ezcorp's expected full-year earnings should be up 16 percent to 19 percent compared with a year ago, according to analysts.

Naturally, contrarian and value investor that I am, I bought more. If I liked the company before then I like it more now. I think the earnings news may be disappointing but after that disappointment wears off perhaps other investors will see what I see.

And I see good things. The projections reduce full year earnings 10 cents from about $1.52 per share to a best guess $1.42 per share. That equates to a market beating P/E of 12.9 at an $11.00 price which is where I bought it today. Not that the P/E is my notion of value by itself. More importantly it has a price-to-earnings-to-growth, referred to as the PEG ratio of 0.36, when anything under 1.0 is noteworthy.

Furthermore, the company is now trading at a P/S of 1.44 and a P/B of 1.49. These figures are also low for a company that has a five-year annual growth rate of 39.72% and almost 12% profit margins, to go along with an ROE, ROA and ROIC each hovering around 20%.

Since the market has jumped 40% over the last ten weeks, there are fewer and fewer places to find stocks on sale. To find a growth stock at value pricing and a low capitalization (room to run) of $500 million seems like it would be worth a look.

Update: EZPW closed at $10.99. After hours it traded up to $11.13.

Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. Disclosure: I own shares of EZPW.