Connor Clark & Lunn Investment Management Ltd. Takes $2.04 Million Position in FirstCash Holdings, Inc. $FCFS

Key Points

• Connor Clark & Lunn Investment Management acquired 9,431 FirstCash shares worth approximately $2.04 million in the second quarter. Hedge funds and other institutional investors own 80.30% of FCFS stock.
• Analysts maintain a generally positive outlook, with four Buy ratings and one Hold rating. FirstCash has a consensus “Moderate Buy” rating and an average price target of $249.
• FirstCash exceeded quarterly expectations, reporting $2.50 in earnings per share and $1.07 billion in revenue, up 29.4% year over year. The company also paid a quarterly dividend of $0.42 per share, while insiders sold $3.76 million of stock over the past 90 days.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,431 shares of the company's stock, valued at approximately $2,040,000.

Several other hedge funds have also recently made changes to their positions in FCFS. Harbor Investment Advisory LLC purchased a new stake in FirstCash in the first quarter worth approximately $26,000. Geneos Wealth Management Inc. bought a new stake in FirstCash in the 1st quarter worth approximately $29,000. CIBC Private Wealth Group LLC grew its position in FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company's stock worth $31,000 after purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in FirstCash during the 2nd quarter valued at $34,000. Finally, Assetmark Inc. raised its stake in FirstCash by 113.2% during the 1st quarter. Assetmark Inc. now owns 194 shares of the company's stock valued at $36,000 after buying an additional 103 shares during the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCFS has been the topic of several research analyst reports. TD Cowen increased their price target on FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Loop Capital upgraded FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price objective for the company in a research report on Monday, August 10th. Weiss Ratings downgraded FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Finally, Zacks Research cut FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, FirstCash has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

Insider Buying and Selling

In related news, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction on Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the transaction, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. The trade was a 5.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 business's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the sale, the senior vice president directly owned 20,400 shares of the company's stock, valued at $4,594,692. This represents a 25.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,183 shares of company stock valued at $3,761,228 in the last 90 days. 2.86% of the stock is owned by company insiders.

FirstCash Stock Down 2.2%

Shares of FCFS stock opened at $219.21 on Friday. FirstCash Holdings, Inc. has a 12 month low of $144.56 and a 12 month high of $238.93. The stock has a market cap of $9.51 billion, a P/E ratio of 25.02 and a beta of 0.53. 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 company has a 50 day simple moving average of $214.22 and a two-hundred day simple moving average of $208.69.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping 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 quarterly revenue was up 29.4% on a year-over-year basis. During the same period last year, the firm earned $1.34 earnings per share. On average, research analysts expect that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, August 14th. FirstCash's dividend payout ratio (DPR) is currently 19.18%.

FirstCash 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.

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