Fiduciary Management Inc. WI Reduces Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• Fiduciary Management Inc. WI reduced its stake in FirstCash Holdings, Inc. by 0.7%, selling 8,492 shares, while still owning 1,295,041 shares valued at $155.8 million.
• FirstCash recently declared a dividend increase to $0.42 per share, with a dividend yield of 1.2%, up from its previous quarterly dividend of $0.38.
• Analysts have mixed ratings on FirstCash stocks, with a consensus rating of "Buy" and a price target averaging $142.33, highlighting potential growth amidst fluctuating market conditions.

Fiduciary Management Inc. WI decreased its position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,295,041 shares of the company's stock after selling 8,492 shares during the quarter. Fiduciary Management Inc. WI owned about 2.92% of FirstCash worth $155,819,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCFS. Advantage Alpha Capital Partners LP grew its holdings in shares of FirstCash by 16.8% in the 1st quarter. Advantage Alpha Capital Partners LP now owns 54,249 shares of the company's stock worth $6,527,000 after purchasing an additional 7,792 shares during the last quarter. Martingale Asset Management L P grew its position in shares of FirstCash by 6.2% in the 1st quarter. Martingale Asset Management L P now owns 23,835 shares of the company's stock valued at $2,868,000 after purchasing an additional 1,400 shares during the period. Erste Asset Management GmbH grew its holdings in shares of FirstCash by 12.4% during the first quarter. Erste Asset Management GmbH now owns 208,000 shares of the company's stock worth $25,027,000 after buying an additional 23,000 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its position in FirstCash by 81.0% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,581 shares of the company's stock valued at $1,030,000 after purchasing an additional 3,839 shares in the last quarter. Finally, Brooklyn Investment Group increased its position in shares of FirstCash by 7,233.3% in the first quarter. Brooklyn Investment Group now owns 660 shares of the company's stock valued at $79,000 after acquiring an additional 651 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FirstCash

In related news, insider Howard F. Hambleton sold 3,900 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total transaction of $510,627.00. Following the transaction, the insider owned 32,481 shares of the company's stock, valued at approximately $4,252,737.33. This represents a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Graves sold 6,000 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $134.56, for a total value of $807,360.00. Following the transaction, the director directly owned 15,846 shares of the company's stock, valued at approximately $2,132,237.76. This represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,900 shares of company stock worth $15,193,007 in the last three months. Company insiders own 14.77% of the company's stock.

FirstCash Stock Up 0.7%

FCFS stock traded up $0.96 during midday trading on Wednesday, hitting $148.21. The company's stock had a trading volume of 82,118 shares, compared to its average volume of 305,474. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79. FirstCash Holdings, Inc. has a 12 month low of $100.24 and a 12 month high of $148.73. The company has a market cap of $6.58 billion, a PE ratio of 22.76 and a beta of 0.68. The firm's 50-day moving average is $133.96 and its 200-day moving average is $126.57.

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

FirstCash Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.42 dividend. This is a positive change from FirstCash's previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. FirstCash's dividend payout ratio (DPR) is 25.81%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FCFS. Cowen restated a "buy" rating on shares of FirstCash in a research note on Monday, August 18th. Jefferies Financial Group upgraded shares of FirstCash to a "strong-buy" rating in a research report on Monday, August 18th. Capital One Financial set a $160.00 price objective on shares of FirstCash in a research report on Tuesday, August 5th. Finally, Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, FirstCash has a consensus rating of "Buy" and an average target price of $142.33.

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.