The Manufacturers Life Insurance Company bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 37,744 shares of the company’s stock, valued at approximately $8,165,000. The Manufacturers Life Insurance Company owned about 0.09% of FirstCash at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of FCFS. Vaughan Nelson Investment Management L.P. lifted its stake in shares of FirstCash by 9.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 474,977 shares of the company’s stock worth $89,296,000 after purchasing an additional 40,535 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in FirstCash by 70,840.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 43,983 shares of the company’s stock valued at $7,010,000 after buying an additional 43,921 shares during the period. Fourth Sail Capital LP bought a new stake in FirstCash during the fourth quarter valued at approximately $17,439,000. BlackRock Inc. purchased a new stake in FirstCash during the second quarter valued at approximately $1,088,429,000. Finally, Brant Point Investment Management LLC purchased a new stake in FirstCash during the fourth quarter valued at approximately $2,391,000. 80.30% of the stock is owned by institutional investors.
Insider Activity
In other news, COO Thomas Brent Stuart sold 5,348 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $214.63, for a total value of $1,147,841.24. Following the sale, the chief operating officer owned 135,498 shares of the company’s stock, valued at approximately $29,081,935.74. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the transaction, the senior vice president owned 20,400 shares in the company, valued at $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 17,183 shares of company stock worth $3,761,228. 2.86% of the stock is currently owned by insiders.
FirstCash Price Performance
FirstCash (NASDAQ:FCFS – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities research analysts predict that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.
FirstCash Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash’s payout ratio is 19.18%.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on FCFS shares. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective on the stock in a research report on Monday, August 10th. TD Cowen boosted their price target on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings lowered shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.00.
Get Our Latest Stock Report on FCFS
FirstCash Profile
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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