Corient Private Wealth LP Invests $1.25 Million in FirstCash Holdings, Inc. $FCFS

Key Points

• Corient Private Wealth LP acquired 5,757 FirstCash shares valued at approximately $1.25 million, while institutional investors collectively own 80.3% of the company.
• FirstCash exceeded quarterly expectations, reporting $2.50 in EPS and $1.07 billion in revenue, with revenue rising 29.4% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average $249 price target, while the company pays a quarterly dividend of $0.42, yielding approximately 0.7% annually.

Corient Private Wealth LP acquired a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 5,757 shares of the company's stock, valued at approximately $1,245,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. raised its position in shares of FirstCash by 9.3% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 474,977 shares of the company's stock worth $89,296,000 after buying an additional 40,535 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in FirstCash by 70,840.3% during the fourth 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 during the period. Fourth Sail Capital LP acquired a new position in FirstCash in the 4th quarter valued at approximately $17,439,000. BlackRock Inc. acquired a new stake in shares of FirstCash during the 2nd quarter valued at about $1,088,429,000. Finally, Brant Point Investment Management LLC acquired a new stake in shares of FirstCash in the 4th quarter valued at $2,391,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

FirstCash Price Performance

Shares of FCFS stock opened at $225.62 on Friday. FirstCash Holdings, Inc. has a 52 week low of $144.56 and a 52 week high of $238.93. The stock has a market capitalization of $9.79 billion, a PE ratio of 25.76 and a beta of 0.53. 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's fifty day moving average is $214.19 and its 200-day moving average is $210.01.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.11. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The company's revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. Equities research 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 was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.42 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash's dividend payout ratio (DPR) is currently 19.18%.

Analyst Ratings Changes

FCFS has been the subject of a number of recent analyst reports. Wall Street Zen cut FirstCash from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research downgraded shares of FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Loop Capital raised shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target on the stock in a report on Monday, August 10th. Weiss Ratings cut shares of FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Finally, TD Cowen raised their price objective on shares of FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $249.00.

Insiders Place Their Bets

In other news, COO Thomas Stuart sold 5,348 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the sale, the chief operating officer owned 135,498 shares in the company, valued at $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James Graves sold 3,750 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $221.20, for a total value of $829,500.00. Following the transaction, the director directly owned 11,929 shares of the company's stock, valued at approximately $2,638,694.80. The trade was a 23.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 14,098 shares of company stock valued at $3,051,281. Corporate insiders own 2.86% of the company's stock.

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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