Midway Capital Research & Management acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,929 shares of the company’s stock, valued at approximately $2,220,000. FirstCash comprises approximately 2.2% of Midway Capital Research & Management’s holdings, making the stock its 20th biggest holding.
Several other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its position in FirstCash by 531.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 259 shares of the company’s stock worth $41,000 after acquiring an additional 218 shares during the period. Villanova Investment Management Co LLC increased its holdings in shares of FirstCash by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company’s stock valued at $2,037,000 after purchasing an additional 54 shares during the period. Invesco Ltd. increased its holdings in shares of FirstCash by 8.5% in the fourth quarter. Invesco Ltd. now owns 319,972 shares of the company’s stock valued at $50,997,000 after purchasing an additional 25,001 shares during the period. Strive Financial Group LLC purchased a new position in shares of FirstCash in the fourth quarter worth about $155,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of FirstCash by 16.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 4,473 shares of the company’s stock worth $713,000 after purchasing an additional 632 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other FirstCash news, COO Thomas Brent Stuart sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $228.49, for a total value of $2,284,900.00. Following the sale, the chief operating officer owned 140,846 shares in the company, valued at approximately $32,181,902.54. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula K. Garrett sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $217.40, for a total transaction of $326,100.00. Following the sale, the director directly owned 6,564 shares in the company, valued at $1,427,013.60. The trade was a 18.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 27,500 shares of company stock valued at $6,243,104 in the last three months. 2.86% of the stock is currently owned by company insiders.
FirstCash Stock Performance
FirstCash (NASDAQ:FCFS – Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.39. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The company’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.07 earnings per share. On average, equities analysts forecast that FirstCash Holdings, Inc. will post 11.3 earnings per share for the current year.
FirstCash Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash’s payout ratio is presently 21.05%.
Wall Street Analyst Weigh In
FCFS has been the subject of a number of research reports. Weiss Ratings downgraded FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. TD Cowen raised their price target on shares of FirstCash from $205.00 to $235.00 and gave the stock a “buy” rating in a research report 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. Finally, Canaccord Genuity Group lifted their price objective on shares of FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Two equities research 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. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $198.00.
Check Out 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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