Entropy Technologies LP acquired a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,409 shares of the company’s stock, valued at approximately $829,000.
Several other institutional investors and hedge funds also recently modified their holdings of the stock. Harbor Investment Advisory LLC purchased a new stake in shares of FirstCash during the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. acquired a new position in FirstCash during the 1st quarter worth approximately $29,000. CIBC Private Wealth Group LLC boosted its holdings in FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after acquiring an additional 162 shares during the period. High Point Wealth Management LLC purchased a new position in FirstCash in the 4th quarter worth approximately $33,000. Finally, Assetmark Inc. grew its position in FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after acquiring an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on FCFS. 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. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings lowered shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Finally, TD Cowen lifted their price target on shares of FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, FirstCash presently has an average rating of “Moderate Buy” and an average target price of $199.25.
FirstCash Stock Performance
FirstCash stock opened at $206.73 on Wednesday. FirstCash Holdings, Inc. has a 52 week low of $120.00 and a 52 week high of $235.97. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. The stock has a market cap of $9.06 billion, a P/E ratio of 23.60 and a beta of 0.53. The stock has a 50 day moving average of $218.80 and a 200-day moving average of $201.95.
FirstCash (NASDAQ:FCFS – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.11. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The firm’s quarterly revenue was up 29.4% on a year-over-year basis. On average, analysts expect that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.
FirstCash Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 14th. FirstCash’s dividend payout ratio is 19.18%.
Insider Buying and Selling at FirstCash
In related news, Director Paula K. Garrett sold 1,500 shares of FirstCash stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $217.40, for a total value of $326,100.00. Following the completion of the transaction, the director directly owned 6,564 shares in the company, valued at approximately $1,427,013.60. This trade represents a 18.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the transaction, the senior vice president owned 20,400 shares of the company’s stock, valued at $4,594,692. This trade represents a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 27,500 shares of company stock valued at $6,243,104. Corporate insiders own 2.86% of the company’s stock.
FirstCash Company 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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