Brant Point Investment Management LLC Invests $2.39 Million in FirstCash Holdings, Inc. $FCFS

Key Points

• Brant Point Investment Management opened a new position in FirstCash Holdings, buying 15,000 shares worth about $2.39 million in the fourth quarter.
• FirstCash recently reported strong quarterly results, with earnings of $2.69 per share beating estimates and revenue of $1.05 billion, up 25.7% year over year.
• The company also paid a quarterly dividend of $0.42 per share, while analysts currently rate the stock a Buy with a consensus price target of $198.

Brant Point Investment Management LLC purchased a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,000 shares of the company's stock, valued at approximately $2,391,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of FirstCash by 96.0% during the third quarter. JPMorgan Chase & Co. now owns 240,441 shares of the company's stock worth $38,091,000 after buying an additional 117,788 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position 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 worth $7,010,000 after buying an additional 43,921 shares in the last quarter. Vanguard Group Inc. grew its position in shares of FirstCash by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,096,956 shares of the company's stock worth $649,040,000 after buying an additional 83,113 shares in the last quarter. Oak Ridge Investments LLC acquired a new stake in shares of FirstCash during the fourth quarter worth approximately $1,857,000. Finally, Mirabella Financial Services LLP acquired a new stake in shares of FirstCash during the third quarter worth approximately $3,463,000. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Price Performance

Shares of NASDAQ FCFS opened at $224.89 on Friday. FirstCash Holdings, Inc. has a fifty-two week low of $119.21 and a fifty-two week high of $235.97. The firm's 50-day simple moving average is $216.66 and its 200 day simple moving average is $189.10. The company has a quick ratio of 3.42, a current ratio of 4.77 and a debt-to-equity ratio of 0.98. The stock has a market cap of $9.86 billion, a P/E ratio of 28.18 and a beta of 0.52.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The company's revenue was up 25.7% on a year-over-year basis. Equities analysts expect that FirstCash Holdings, Inc. will post 11.3 EPS for the current year.

FirstCash Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. FirstCash's payout ratio is currently 21.05%.

Insider Buying and Selling at FirstCash

In related news, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the sale, the senior vice president directly owned 20,400 shares in the company, valued at $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $227.29, for a total transaction of $454,580.00. Following the sale, the chief financial officer owned 35,734 shares in the company, valued at approximately $8,121,980.86. This represents a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 27,500 shares of company stock valued at $6,243,104. 2.86% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FCFS has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. TD Cowen raised their price objective on FirstCash from $205.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Canaccord Genuity Group raised their price objective on FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Weiss Ratings cut FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, April 27th. Finally, Zacks Research upgraded FirstCash from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $198.00.

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.

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