Hosking Partners LLP lowered its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) by 6.7% during the third quarter, Holdings Channel reports. The firm owned 36,533 shares of the company’s stock after selling 2,624 shares during the quarter. Hosking Partners LLP’s holdings in FirstCash were worth $7,717,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in FCFS. MBM Wealth Consultants LLC boosted its position in shares of FirstCash by 5.7% in the 3rd quarter. MBM Wealth Consultants LLC now owns 6,662 shares of the company’s stock valued at $1,407,000 after purchasing an additional 358 shares during the period. Midway Capital Research & Management grew its stake in FirstCash by 0.6% during the 3rd quarter. Midway Capital Research & Management now owns 13,947 shares of the company’s stock worth $2,946,000 after buying an additional 87 shares during the last quarter. Optivise Advisory Services LLC purchased a new position in FirstCash during the 3rd quarter worth approximately $258,000. USA Financial Formulas purchased a new position in FirstCash during the 3rd quarter worth approximately $50,000. Finally, Annex Advisory Services LLC increased its position in FirstCash by 24.0% during the third quarter. Annex Advisory Services LLC now owns 16,029 shares of the company’s stock worth $3,386,000 after buying an additional 3,104 shares during the period. 80.30% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have weighed in on FCFS. Weiss Ratings upgraded FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a research note on Thursday, October 8th. Stephens restated an “overweight” rating and set a $250.00 target price on shares of FirstCash in a research report on Thursday, October 1st. Wall Street Zen lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Canaccord Genuity Group lifted their target price on shares of FirstCash from $252.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 15th. Finally, Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target for the company in a research report on Monday, August 10th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $253.00.
Check Out Our Latest Analysis on FirstCash
Insider Activity
In related news, COO Thomas Stuart sold 5,348 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the transaction, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at $29,081,935.74. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Graves sold 3,750 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total transaction of $829,500.00. Following the completion of the sale, the director owned 11,929 shares of the company’s stock, valued at approximately $2,638,694.80. The trade was a 23.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 14,098 shares of company stock valued at $3,051,281. 2.86% of the stock is owned by insiders.
FirstCash Stock Up 0.9%
Shares of FirstCash stock opened at $216.75 on Thursday. The company has a market cap of $9.40 billion, a P/E ratio of 24.74 and a beta of 0.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. FirstCash Holdings, Inc. has a one year low of $146.77 and a one year high of $238.93. The firm has a fifty day moving average of $217.83 and a two-hundred day moving average of $216.41.
FirstCash (NASDAQ:FCFS – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.39 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business’s revenue was up 29.4% on a year-over-year basis. During the same quarter last year, the business earned $1.34 EPS. On average, analysts forecast that FirstCash Holdings, Inc. will post 11.59 earnings per share for the current year.
About FirstCash
FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.
The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.
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