FirstCash (NASDAQ:FCFS) Stock Price Down 11% – Here’s Why

Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Get Free Report) traded down 11% during mid-day trading on Thursday. The company traded as low as $194.34 and last traded at $192.9610. 85,657 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 374,353 shares. The stock had previously closed at $216.75.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings raised FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 8th. Canaccord Genuity Group lifted their target price on FirstCash from $252.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 15th. Wall Street Zen lowered FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Stephens reiterated an “overweight” rating and issued a $250.00 price target on shares of FirstCash in a report on Thursday, October 1st. Finally, TD Cowen increased their price target on shares of FirstCash from $240.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, October 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Read Our Latest Research Report on FirstCash

FirstCash Stock Performance

The firm has a fifty day moving average of $217.83 and a 200 day moving average of $216.41. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 21.09 and a beta of 0.55.

FirstCash (NASDAQ:FCFS – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.05. FirstCash had a return on equity of 19.65% and a net margin of 9.42%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $1.86 earnings per share. FirstCash’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, sell-side analysts anticipate that FirstCash Holdings, Inc. will post 11.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James Graves sold 3,750 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total value of $829,500.00. Following the completion of the transaction, the director directly owned 11,929 shares in the company, valued at $2,638,694.80. The trade was a 23.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO R. Orr sold 2,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the sale, the chief financial officer directly owned 34,734 shares in the company, valued at $7,502,544. This trade represents a 5.44% 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 14,098 shares of company stock valued at $3,051,281 in the last quarter. Company insiders own 2.86% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in shares of FirstCash by 29.6% in the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after acquiring an additional 56 shares during the period. Arista Wealth Management LLC boosted its stake in shares of FirstCash by 1.4% during the 2nd quarter. Arista Wealth Management LLC now owns 4,193 shares of the company’s stock worth $907,000 after acquiring an additional 56 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of FirstCash by 19.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 505 shares of the company’s stock valued at $107,000 after acquiring an additional 82 shares during the period. Midway Capital Research & Management grew its position in shares of FirstCash by 0.6% during the 3rd quarter. Midway Capital Research & Management now owns 13,947 shares of the company’s stock valued at $2,946,000 after acquiring an additional 87 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of FirstCash by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 9,315 shares of the company’s stock valued at $1,751,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

About FirstCash

(Get Free Report)

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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