Annex Advisory Services LLC Cuts Stake in FirstCash Holdings, Inc. $FCFS

Key Points

• Annex Advisory Services LLC has reduced its holdings in FirstCash Holdings, Inc. by 16.5%, selling 4,308 shares, and now owns 21,828 shares valued at approximately $2.95 million.
• FirstCash recently reported earnings of $1.79 EPS, exceeding analysts' expectations, with total revenue of $830.62 million, up from $820.42 million anticipated.
• The company raised its quarterly dividend from $0.38 to $0.42 per share, representing an annual yield of 1.1% and a payout ratio of 25.81%.

Annex Advisory Services LLC lessened its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 16.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,828 shares of the company's stock after selling 4,308 shares during the quarter. Annex Advisory Services LLC's holdings in FirstCash were worth $2,950,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in FirstCash by 808.0% in the first quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after purchasing an additional 202 shares during the period. CX Institutional acquired a new position in FirstCash in the 1st quarter valued at $42,000. UMB Bank n.a. grew its stake in shares of FirstCash by 167.5% during the 1st quarter. UMB Bank n.a. now owns 452 shares of the company's stock valued at $54,000 after buying an additional 283 shares during the period. CWM LLC boosted its position in FirstCash by 92.9% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $62,000 after purchasing an additional 249 shares during the period. Finally, State of Wyoming purchased a new position in FirstCash in the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Insider Buying and Selling at FirstCash

In other news, CEO Rick L. Wessel sold 69,024 shares of FirstCash stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $138.49, for a total transaction of $9,559,133.76. Following the transaction, the chief executive officer directly owned 932,958 shares of the company's stock, valued at $129,205,353.42. This trade represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James H. Graves sold 6,000 shares of FirstCash stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $134.56, for a total transaction of $807,360.00. Following the sale, the director directly owned 15,846 shares of the company's stock, valued at $2,132,237.76. The trade was a 27.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 111,500 shares of company stock valued at $15,493,610. 14.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

FCFS has been the topic of several research reports. Jefferies Financial Group upgraded shares of FirstCash to a "strong-buy" rating in a research note on Monday, August 18th. Loop Capital lowered shares of FirstCash from a "buy" rating to a "hold" rating and set a $145.00 target price on the stock. in a research note on Friday, September 5th. Cowen reissued a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Capital One Financial set a $160.00 price target on shares of FirstCash in a research report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $143.00.

FirstCash Stock Down 1.4%

FirstCash stock traded down $2.13 during midday trading on Friday, hitting $146.43. The stock had a trading volume of 592,199 shares, compared to its average volume of 243,020. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79. The stock has a market cap of $6.50 billion, a P/E ratio of 22.49 and a beta of 0.70. FirstCash Holdings, Inc. has a 12 month low of $100.24 and a 12 month high of $150.92. The business has a fifty day moving average price of $139.04 and a 200 day moving average price of $130.83.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. The business 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 was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. Research analysts predict that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is a boost from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. FirstCash's payout ratio is 25.81%.

FirstCash Profile

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.