Copeland Capital Management LLC Buys 177,470 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• Copeland Capital Management increased its FirstCash stake by 179.3% in the third quarter, buying 177,470 shares to reach 276,429 shares worth approximately $58.4 million. Institutional investors and hedge funds collectively own 80.3% of the company.
• FirstCash reported quarterly EPS of $2.50, exceeding estimates of $2.39, while revenue rose 29.4% year over year to $1.07 billion. The company also pays a quarterly dividend of $0.42, or $1.68 annually.
• Analyst sentiment remains favorable, with five Buy ratings and one Hold rating producing a consensus “Moderate Buy” rating and an average price target of $249.75, versus a share price of $218.83.

Copeland Capital Management LLC lifted its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 179.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,429 shares of the company's stock after purchasing an additional 177,470 shares during the period. FirstCash accounts for approximately 1.3% of Copeland Capital Management LLC's holdings, making the stock its 24th largest holding. Copeland Capital Management LLC owned about 0.64% of FirstCash worth $58,390,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Avior Wealth Management LLC increased its stake in shares of FirstCash by 45.1% in the 3rd quarter. Avior Wealth Management LLC now owns 1,415 shares of the company's stock valued at $299,000 after acquiring an additional 440 shares during the last quarter. GAMMA Investing LLC boosted its stake in FirstCash by 6.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,392 shares of the company's stock worth $716,000 after acquiring an additional 212 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in FirstCash by 19.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 505 shares of the company's stock worth $107,000 after acquiring an additional 82 shares during the last quarter. Apella Capital LLC boosted its stake in FirstCash by 11.2% during the 3rd quarter. Apella Capital LLC now owns 1,261 shares of the company's stock worth $264,000 after acquiring an additional 127 shares during the last quarter. Finally, Eastern Bank grew its holdings in FirstCash by 38.3% during the third quarter. Eastern Bank now owns 1,985 shares of the company's stock valued at $419,000 after purchasing an additional 550 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Howard Hambleton sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the sale, the insider owned 30,406 shares of the company's stock, valued at approximately $6,475,869.88. This represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Graves sold 3,750 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total transaction of $829,500.00. Following the completion of the transaction, the director directly owned 11,929 shares of the company's stock, valued at $2,638,694.80. This represents a 23.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 14,098 shares of company stock worth $3,051,281. 2.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FCFS shares. Wall Street Zen downgraded shares of FirstCash from a "buy" rating to a "hold" rating in a research note on Saturday. Zacks Research lowered shares of FirstCash from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. TD Cowen lifted their price target on shares of FirstCash from $240.00 to $242.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Loop Capital raised shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target for the company in a report on Monday, August 10th. Finally, Stephens reissued an "overweight" rating and issued a $250.00 price target on shares of FirstCash in a report on Thursday, October 1st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $249.75.

FirstCash Price Performance

NASDAQ FCFS opened at $218.83 on Wednesday. The firm's 50 day moving average is $216.88 and its 200-day moving average is $215.41. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $9.49 billion, a PE ratio of 24.98 and a beta of 0.55. FirstCash Holdings, Inc. has a 12-month low of $146.77 and a 12-month high of $238.93.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.39 by $0.11. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the firm posted $1.34 EPS. Equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.59 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, August 14th. FirstCash's dividend payout ratio is presently 19.18%.

FirstCash Company Profile

FirstCash Holdings, Inc operates pawn stores and related consumer financial services businesses in the United States and Latin America. Its pawn stores provide collateral-based loans to consumers, while also buying and selling secondhand merchandise such as jewelry, electronics, tools, sporting goods and other personal property.

The company serves customers through pawn locations in the United States and Mexico, as well as selected markets in Central and South America. Its operations are designed to provide short-term, non-recourse credit secured by personal property, along with retail opportunities for value-conscious consumers.

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