Drive Wealth Management LLC Makes New Investment in FirstCash Holdings, Inc. $FCFS

Key Points

• Drive Wealth Management LLC has acquired a new position in FirstCash Holdings, purchasing 1,702 shares valued at approximately $230,000.
• FirstCash recently announced a quarterly dividend increase to $0.42 per share, up from $0.38, indicating a 1.1% annual yield.
• Equities analysts have a consensus rating of "Buy" for FirstCash shares, with a target price average of $154.40.

Drive Wealth Management LLC purchased a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,702 shares of the company's stock, valued at approximately $230,000.

Several other hedge funds have also recently modified their holdings of FCFS. Farther Finance Advisors LLC boosted its holdings in shares of FirstCash by 808.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after acquiring an additional 202 shares during the last quarter. IFP Advisors Inc raised its position in FirstCash by 181.6% during the second quarter. IFP Advisors Inc now owns 290 shares of the company's stock valued at $39,000 after acquiring an additional 187 shares in the last quarter. CX Institutional lifted its holdings in FirstCash by 24.7% in the second quarter. CX Institutional now owns 434 shares of the company's stock valued at $59,000 after acquiring an additional 86 shares during the period. Bayforest Capital Ltd boosted its position in FirstCash by 169.9% in the 2nd quarter. Bayforest Capital Ltd now owns 448 shares of the company's stock worth $61,000 after purchasing an additional 282 shares in the last quarter. Finally, CWM LLC grew its stake in shares of FirstCash by 92.9% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $62,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Stock Performance

NASDAQ FCFS opened at $158.40 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. The stock's 50 day simple moving average is $148.82 and its 200-day simple moving average is $136.08. The company has a market cap of $7.03 billion, a PE ratio of 24.33 and a beta of 0.69. FirstCash Holdings, Inc. has a 1-year low of $100.24 and a 1-year high of $163.01.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The company had revenue of $830.62 million for the quarter, compared to analyst estimates of $820.42 million. During the same quarter last year, the firm posted $1.37 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This is a boost from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. FirstCash's dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FCFS shares. Jefferies Financial Group upgraded shares of FirstCash to a "strong-buy" rating in a research note on Monday, August 18th. Loop Capital lowered FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price objective on the stock. in a report on Friday, September 5th. Cowen reaffirmed a "buy" rating on shares of FirstCash in a research note on Monday, August 18th. Capital One Financial set a $160.00 target price on FirstCash in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of FirstCash in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, FirstCash has a consensus rating of "Buy" and an average price target of $154.40.

Insider Activity at FirstCash

In other FirstCash news, CFO R Douglas Orr sold 2,852 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $159.72, for a total value of $455,521.44. Following the completion of the sale, the chief financial officer owned 39,734 shares in the company, valued at approximately $6,346,314.48. This represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rick L. Wessel sold 30,976 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the completion of the transaction, the chief executive officer directly owned 901,982 shares in the company, valued at $125,673,152.06. This trade represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,000 shares of company stock valued at $16,690,723. Corporate insiders own 14.77% of the company's stock.

About FirstCash

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.

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