Legato Capital Management LLC Acquires New Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Key Points

• Legato Capital Management LLC purchased 2,555 shares of FirstCash Holdings, Inc. valued at approximately $307,000, indicating ongoing interest from institutional investors.
• FirstCash recently increased its quarterly dividend to $0.42 per share, compared to the previous $0.38, reflecting a strong financial position with a payout ratio of 23.35%.
• The company reported a quarterly earnings per share of $1.79, surpassing analysts' expectations by $0.13, alongside revenue of $830.62 million for the quarter.

Legato Capital Management LLC purchased a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,555 shares of the company's stock, valued at approximately $307,000.

Other large investors also recently modified their holdings of the company. HighTower Advisors LLC lifted its stake in FirstCash by 13.6% in the fourth quarter. HighTower Advisors LLC now owns 8,502 shares of the company's stock valued at $881,000 after buying an additional 1,016 shares during the period. KLP Kapitalforvaltning AS acquired a new position in FirstCash in the fourth quarter valued at approximately $829,000. LPL Financial LLC lifted its stake in FirstCash by 21.3% in the fourth quarter. LPL Financial LLC now owns 24,443 shares of the company's stock valued at $2,677,000 after buying an additional 4,294 shares during the period. Vanguard Group Inc. lifted its stake in FirstCash by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,112,978 shares of the company's stock valued at $426,105,000 after buying an additional 22,009 shares during the period. Finally, EntryPoint Capital LLC lifted its stake in FirstCash by 6.6% in the fourth quarter. EntryPoint Capital LLC now owns 2,319 shares of the company's stock valued at $240,000 after buying an additional 143 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FirstCash news, insider Howard F. Hambleton sold 3,900 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total value of $510,627.00. Following the completion of the transaction, the insider owned 32,481 shares in the company, valued at $4,252,737.33. This trade represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 14.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

FirstCash Stock Down 1.9%

NASDAQ FCFS traded down $2.28 on Monday, reaching $120.17. The company had a trading volume of 159,514 shares, compared to its average volume of 295,738. The stock has a market capitalization of $5.33 billion, a P/E ratio of 18.44 and a beta of 0.62. The company's fifty day moving average is $130.42 and its 200 day moving average is $122.90. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $138.42. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. The firm had revenue of $830.62 million during the quarter, compared to the consensus estimate of $820.42 million. FirstCash had a return on equity of 16.63% and a net margin of 8.61%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Sell-side analysts anticipate that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal year.

FirstCash Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.40%. This is an increase from FirstCash's previous quarterly dividend of $0.38. FirstCash's dividend payout ratio (DPR) is currently 23.35%.

About FirstCash

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.