Northwestern Mutual Wealth Management Co. increased its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) by 70,840.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,983 shares of the company’s stock after buying an additional 43,921 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in FirstCash were worth $7,010,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. State of Wyoming lifted its position in FirstCash by 4.3% during the 3rd quarter. State of Wyoming now owns 1,765 shares of the company’s stock worth $280,000 after acquiring an additional 73 shares during the period. Profund Advisors LLC lifted its position in FirstCash by 4.9% during the 3rd quarter. Profund Advisors LLC now owns 1,632 shares of the company’s stock worth $259,000 after acquiring an additional 76 shares during the period. Ascent Group LLC lifted its position in FirstCash by 6.0% during the 4th quarter. Ascent Group LLC now owns 1,423 shares of the company’s stock worth $227,000 after acquiring an additional 81 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in FirstCash by 1.0% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 8,703 shares of the company’s stock worth $1,379,000 after acquiring an additional 85 shares during the period. Finally, Pullen Investment Management LLC lifted its position in FirstCash by 0.4% during the 4th quarter. Pullen Investment Management LLC now owns 20,263 shares of the company’s stock worth $3,230,000 after acquiring an additional 87 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
FCFS has been the subject of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Zacks Research upgraded shares of FirstCash from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings cut shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Finally, TD Cowen increased their price target on shares of FirstCash from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $198.00.
Insiders Place Their Bets
In other news, CFO R Douglas Orr sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $227.29, for a total value of $454,580.00. Following the completion of the sale, the chief financial officer directly owned 35,734 shares of the company’s stock, valued at $8,121,980.86. This trade represents a 5.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $228.49, for a total value of $2,284,900.00. Following the completion of the sale, the chief operating officer directly owned 140,846 shares of the company’s stock, valued at $32,181,902.54. This represents a 6.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,500 shares of company stock valued at $3,972,130 over the last 90 days. 2.86% of the stock is owned by corporate insiders.
FirstCash Stock Up 0.6%
FCFS opened at $227.59 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42. The business has a 50 day simple moving average of $207.32 and a 200-day simple moving average of $182.38. The stock has a market capitalization of $9.98 billion, a P/E ratio of 28.52 and a beta of 0.52. FirstCash Holdings, Inc. has a 12 month low of $119.21 and a 12 month high of $235.97.
FirstCash (NASDAQ:FCFS – Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.30 by $0.39. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period last year, the firm earned $2.07 EPS. On average, equities analysts anticipate that FirstCash Holdings, Inc. will post 11.3 earnings per share for the current fiscal year.
FirstCash Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 15th. FirstCash’s dividend payout ratio (DPR) is currently 21.05%.
About FirstCash
FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.
In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.
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