Financiere des Professionnels Fonds d investissement inc. Invests $298,000 in FirstCash Holdings, Inc. $FCFS

Key Points

• Financiere des Professionnels Fonds d investissement inc. has invested $298,000 in FirstCash Holdings, purchasing 2,204 shares, according to a recent SEC filing.
• FirstCash recently announced a quarterly dividend increase to $0.42 per share, with a yield of 1.1%, reflecting a payout ratio of 25.81%.
• Insider trading activity includes CEO Rick L. Wessel selling 30,976 shares valued at approximately $4.3 million, indicating notable movement among company executives.

Financiere des Professionnels Fonds d investissement inc. bought a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,204 shares of the company's stock, valued at approximately $298,000.

A number of other hedge funds have also added to or reduced their stakes in FCFS. Cetera Investment Advisers grew its position in FirstCash by 52.5% in the fourth quarter. Cetera Investment Advisers now owns 4,245 shares of the company's stock valued at $440,000 after purchasing an additional 1,461 shares in the last quarter. Deutsche Bank AG grew its position in FirstCash by 39.2% in the fourth quarter. Deutsche Bank AG now owns 35,052 shares of the company's stock valued at $3,631,000 after purchasing an additional 9,864 shares in the last quarter. Focus Partners Wealth acquired a new stake in FirstCash in the fourth quarter valued at $346,000. Lazard Asset Management LLC lifted its stake in FirstCash by 45.1% in the fourth quarter. Lazard Asset Management LLC now owns 8,205 shares of the company's stock valued at $850,000 after acquiring an additional 2,552 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FirstCash by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,925 shares of the company's stock valued at $2,271,000 after acquiring an additional 864 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

FCFS has been the subject of several analyst reports. Capital One Financial set a $160.00 price objective on shares of FirstCash in a research note on Tuesday, August 5th. Cowen reissued a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Wall Street Zen cut shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Jefferies Financial Group upgraded shares of FirstCash to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Loop Capital downgraded shares of FirstCash from a "buy" rating to a "hold" rating and set a $145.00 target price on the stock. in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $143.00.

Insiders Place Their Bets

In other FirstCash news, CEO Rick L. Wessel sold 69,024 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $138.49, for a total value of $9,559,133.76. Following the completion of the transaction, the chief executive officer owned 932,958 shares of the company's stock, valued at approximately $129,205,353.42. The trade was a 6.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R Douglas Orr sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $148.41, for a total transaction of $445,230.00. Following the completion of the sale, the chief financial officer directly owned 97,567 shares of the company's stock, valued at $14,479,918.47. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,500 shares of company stock valued at $15,493,610. 2.93% of the stock is owned by insiders.

FirstCash Price Performance

Shares of FCFS stock traded down $2.13 during trading hours on Friday, hitting $146.43. 592,199 shares of the company's stock were exchanged, compared to its average volume of 238,897. The company has a market capitalization of $6.50 billion, a PE ratio of 22.49 and a beta of 0.70. FirstCash Holdings, Inc. has a 12-month low of $100.24 and a 12-month high of $150.92. The business's 50 day simple moving average is $139.04 and its 200-day simple moving average is $130.72. 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 (NASDAQ:FCFS - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. The firm had revenue of $830.62 million for the quarter, compared to analysts' expectations of $820.42 million. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business earned $1.37 earnings per share. On average, equities research analysts anticipate that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.42 dividend. This is a positive change from FirstCash's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. FirstCash's payout ratio is presently 25.81%.

FirstCash Company Profile

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.