BlackRock Inc. bought a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,031,570 shares of the company's stock, valued at approximately $1,088,429,000. BlackRock Inc. owned about 11.60% of FirstCash as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in FirstCash by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company's stock worth $2,761,000 after purchasing an additional 1,021 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of FirstCash by 9.7% during the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company's stock worth $46,866,000 after buying an additional 34,364 shares during the last quarter. Jane Street Group LLC boosted its holdings in FirstCash by 237.2% during the first quarter. Jane Street Group LLC now owns 62,057 shares of the company's stock worth $7,467,000 after buying an additional 43,653 shares during the last quarter. American Century Companies Inc. boosted its stake in FirstCash by 4.9% during the 2nd quarter. American Century Companies Inc. now owns 14,187 shares of the company's stock worth $1,917,000 after acquiring an additional 666 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of FirstCash by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company's stock valued at $2,821,000 after buying an additional 8,402 shares in the last quarter. Institutional investors own 80.30% of the company's stock.
Insider Buying and Selling at FirstCash
In other news, COO Thomas Brent Stuart sold 5,348 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total value of $1,147,841.24. Following the sale, the chief operating officer owned 135,498 shares in the company, valued at $29,081,935.74. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 on 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 transaction, the senior vice president owned 20,400 shares of the company's stock, 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 20,348 shares of company stock valued at $4,492,755 over the last quarter. Insiders own 2.86% of the company's stock.
FirstCash Price Performance
Shares of NASDAQ FCFS opened at $225.28 on Friday. The company has a 50 day simple moving average of $214.07 and a two-hundred day simple moving average of $206.91. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 25.72 and a beta of 0.53. FirstCash Holdings, Inc. has a fifty-two week low of $138.34 and a fifty-two week high of $235.97.
FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly 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 business had revenue of $1.07 billion for 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 company's revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.34 earnings per share. Analysts expect that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.
FirstCash Dividend Announcement
The company also recently declared 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 of this dividend is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash's payout ratio is currently 19.18%.
Analysts Set New Price Targets
FCFS has been the topic of several recent research reports. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Zacks Research lowered FirstCash from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Canaccord Genuity Group raised their target price on shares of FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, April 24th. TD Cowen increased their price objective on shares of FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Finally, Loop Capital raised FirstCash from a "hold" rating to a "buy" rating and set a $255.00 target price for the company in a research note on Monday, August 10th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $249.00.
Check Out Our Latest Report on FCFS
About FirstCash
(
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.
Further Reading
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