Ieq Capital LLC acquired a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) during the second quarter, Holdings Channel reports. The fund acquired 6,005 shares of the company’s stock, valued at approximately $1,299,000.
Several other hedge funds have also bought and sold shares of the business. Harbor Investment Advisory LLC purchased a new stake in shares of FirstCash during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in FirstCash during the 1st quarter valued at $29,000. CIBC Private Wealth Group LLC lifted its holdings in FirstCash by 490.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after purchasing an additional 162 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of FirstCash in the second quarter valued at approximately $34,000. Finally, Assetmark Inc. increased its holdings in shares of FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after purchasing an additional 103 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
Analyst Upgrades and Downgrades
FCFS has been the subject of several research reports. TD Cowen upped their target price on shares of FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research report on Monday, August 10th. Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings cut FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Finally, Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.
FirstCash Price Performance
NASDAQ FCFS opened at $219.82 on Thursday. FirstCash Holdings, Inc. has a 1-year low of $144.56 and a 1-year high of $238.93. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 25.09 and a beta of 0.53. 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 business’s fifty day moving average price is $214.43 and its 200-day moving average price is $208.32.
FirstCash (NASDAQ:FCFS – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.FirstCash’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 earnings per share. On average, equities analysts predict that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.
FirstCash Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.42 per share. The ex-dividend date is 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%.
Insider Activity
In other FirstCash news, CFO R Douglas 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 value of $432,000.00. Following the sale, the chief financial officer 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the completion of the transaction, the senior vice president owned 20,400 shares in the company, valued at $4,594,692. This represents a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,183 shares of company stock worth $3,761,228 in the last ninety days. 2.86% of the stock is currently owned by company insiders.
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.
Featured Articles
- Five stocks we like better than FirstCash
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding FCFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report).
Receive News & Ratings for FirstCash Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstCash and related companies with MarketBeat.com's FREE daily email newsletter.
