Stock of Money Store Rose More than 10% After Public Offering

Money Store Inc. saw its stock jump more than 10% from the completion of its public offering last Tuesday to the close of trading on Monday. It reached $29.375 that day before falling to $28.125 in late trading on Wednesday.

The finance company offered 4.6 million shares at $26.50, bringing the total shares available to 62 million.

The company is trading at a fair price, said Kevin Spinner, an analyst with Keefe, Bruyette & Woods Inc., New York. The firm has had a "hold" rating on Money Store throughout the year.

"The company does deserve a premium multiple," said Mr. Spinner, "but it's already trading at one."

Money Store is one of several finance companies that have raked in record home equity loan origination volume and earnings this year.

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