California State Teachers Retirement System Purchases 7,475 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• California State Teachers Retirement System increased its FirstCash stake by 19.8%, purchasing 7,475 shares to bring its holdings to 45,148 shares valued at approximately $8.5 million. Institutional investors and hedge funds collectively own 80.3% of the company.
• FirstCash reported quarterly earnings of $2.50 per share, beating estimates by $0.11, while revenue rose 29.4% year over year to $1.07 billion. The company also declared a quarterly dividend of $0.42, representing an annualized yield of about 0.8%.
• Insiders sold 26,000 shares worth roughly $5.9 million over the past 90 days under pre-arranged trading plans. Analysts maintain a “Moderate Buy” consensus, with an average price target of $212.33.

California State Teachers Retirement System grew its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 19.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,148 shares of the company's stock after buying an additional 7,475 shares during the quarter. California State Teachers Retirement System owned 0.10% of FirstCash worth $8,488,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised its position 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 valued at $89,296,000 after purchasing an additional 40,535 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in FirstCash by 70,840.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 43,983 shares of the company's stock valued at $7,010,000 after buying an additional 43,921 shares in the last quarter. Fourth Sail Capital LP purchased a new position in FirstCash during the 4th quarter valued at about $17,439,000. Brant Point Investment Management LLC bought a new stake in FirstCash during the 4th quarter worth approximately $2,391,000. Finally, Oak Ridge Investments LLC bought a new stake in FirstCash during the fourth quarter valued at $1,857,000. 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 3,000 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total value of $679,230.00. Following the sale, the insider directly owned 32,406 shares in the company, valued at $7,337,042.46. This trade represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 10,000 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $228.49, for a total transaction of $2,284,900.00. Following the completion of the transaction, the chief operating officer owned 140,846 shares of the company's stock, valued at $32,181,902.54. This represents a 6.63% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,000 shares of company stock worth $5,917,004 over the last 90 days. 2.86% of the stock is currently owned by company insiders.

FirstCash Stock Up 2.6%

NASDAQ:FCFS opened at $214.89 on Wednesday. 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 stock has a market capitalization of $9.32 billion, a P/E ratio of 24.53 and a beta of 0.53. FirstCash Holdings, Inc. has a fifty-two week low of $132.82 and a fifty-two week high of $235.97. The company's 50-day simple moving average is $216.65 and its 200-day simple moving average is $203.37.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced 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. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The company had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the business earned $1.34 earnings per share. FirstCash's quarterly revenue was up 29.4% on a year-over-year basis. On average, equities analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

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. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash's dividend payout ratio (DPR) is 19.18%.

Analysts Set New Price Targets

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

FirstCash Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source