Arrowstreet Capital Limited Partnership Purchases New Stake in FirstCash Holdings, Inc. $FCFS

Key Points

• Arrowstreet Capital acquired 5,110 FirstCash shares worth approximately $961,000 in the first quarter. Institutional investors and hedge funds collectively own 80.3% of FCFS.
• FirstCash reported quarterly revenue of $1.07 billion, up 29.4% year over year, and earnings of $2.50 per share, exceeding analysts’ $2.39 estimate.
• The company declared a quarterly dividend of $0.42 per share, or $1.68 annualized, representing a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $212.33.

Arrowstreet Capital Limited Partnership acquired a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,110 shares of the company's stock, valued at approximately $961,000.

A number of other hedge funds have also recently added to or reduced their stakes in FCFS. Vaughan Nelson Investment Management L.P. lifted its holdings in FirstCash by 9.3% in the first 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. grew its holdings in shares of 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 bought a new position in shares of FirstCash during the fourth quarter valued at approximately $17,439,000. Brant Point Investment Management LLC acquired a new stake in shares of FirstCash during the 4th quarter worth approximately $2,391,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of FirstCash during the 4th quarter worth approximately $5,476,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Insider Buying and Selling

In other FirstCash news, COO Thomas Brent Stuart sold 10,000 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $228.49, for a total value of $2,284,900.00. Following the completion of the transaction, the chief operating officer directly owned 140,846 shares in the company, valued at $32,181,902.54. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $227.29, for a total transaction of $454,580.00. Following the completion of the transaction, the chief financial officer directly owned 35,734 shares in the company, valued at approximately $8,121,980.86. This trade represents a 5.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,000 shares of company stock valued at $5,917,004 over the last ninety days. 2.86% of the stock is currently owned by company insiders.

FirstCash Price Performance

Shares of FirstCash stock opened at $205.66 on Friday. FirstCash Holdings, Inc. has a 52 week low of $133.82 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 $8.92 billion, a PE ratio of 23.48 and a beta of 0.53. The company's 50-day moving average price is $215.83 and its two-hundred day moving average price is $203.89.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its quarterly earnings data 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. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $1.34 EPS. The business's revenue for the quarter was up 29.4% on a year-over-year basis. As a group, sell-side analysts anticipate that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be issued 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 payout ratio is presently 19.18%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Zacks Research lowered FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Weiss Ratings cut FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Canaccord Genuity Group raised their target price on FirstCash from $242.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, TD Cowen boosted their price target on shares of FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, FirstCash presently has a consensus rating of "Moderate Buy" and an average target price of $212.33.

About FirstCash

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.

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).

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