Coastal Bridge Advisors LLC Acquires New Stake in FirstCash Holdings, Inc. $FCFS

Coastal Bridge Advisors LLC acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFSFree Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,748 shares of the company’s stock, valued at approximately $2,109,000.

A number of other large investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. increased its holdings in FirstCash by 9.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 474,977 shares of the company’s stock worth $89,296,000 after acquiring an additional 40,535 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in FirstCash by 70,840.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 43,983 shares of the company’s stock valued at $7,010,000 after purchasing an additional 43,921 shares during the last quarter. Fourth Sail Capital LP purchased a new stake in FirstCash during the fourth quarter valued at about $17,439,000. Brant Point Investment Management LLC purchased a new stake in FirstCash during the fourth quarter valued at about $2,391,000. Finally, Hsbc Holdings PLC bought a new position in FirstCash during the fourth quarter worth about $5,476,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Stock Performance

FirstCash stock opened at $224.07 on Friday. FirstCash Holdings, Inc. has a 1-year low of $144.56 and a 1-year high of $238.93. 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 firm has a market capitalization of $9.72 billion, a PE ratio of 25.58 and a beta of 0.53. The firm’s 50 day simple moving average is $214.37 and its 200 day simple moving average is $208.62.

FirstCash (NASDAQ:FCFSGet Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.39 by $0.11. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period last year, the firm earned $1.34 EPS. As a group, analysts expect that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 annualized dividend and a yield of 0.7%. FirstCash’s dividend payout ratio (DPR) is currently 19.18%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCFS. Weiss Ratings downgraded shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. TD Cowen raised their price objective on shares of FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a 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 objective for the company in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, FirstCash currently has a consensus rating of “Moderate Buy” and an average price target of $249.00.

Read Our Latest Research Report on FirstCash

Insiders Place Their Bets

In other FirstCash news, insider Howard F. Hambleton sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the sale, the insider owned 30,406 shares of the company’s stock, valued at $6,475,869.88. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the sale, the senior vice president directly owned 20,400 shares in the company, valued at approximately $4,594,692. The trade was a 25.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,183 shares of company stock worth $3,761,228 over the last three months. Corporate insiders own 2.86% of the company’s stock.

FirstCash Profile

(Free Report)

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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Institutional Ownership by Quarter for FirstCash (NASDAQ:FCFS)

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