First Sabrepoint Capital Management LP Has $19.85 Million Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• First Sabrepoint Capital Management LP reduced its stake in FirstCash Holdings by 54.0% during the first quarter, selling 193,814 shares and now holding 165,001 shares, which accounts for about 7.4% of its portfolio.
• FirstCash announced a quarterly dividend increase to $0.42 per share, reflecting an annualized rate of $1.68 and a yield of 1.1%, up from the previous quarterly dividend of $0.38.
• Wall Street analysts have an average rating of "Buy" for FirstCash, with a consensus target price of $142.33, as several firms recently adjusted their ratings on the stock.

First Sabrepoint Capital Management LP reduced its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 54.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,001 shares of the company's stock after selling 193,814 shares during the period. FirstCash makes up about 7.4% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 2nd largest position. First Sabrepoint Capital Management LP owned about 0.37% of FirstCash worth $19,853,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FCFS. Stifel Financial Corp increased its position in FirstCash by 2.8% in the 4th quarter. Stifel Financial Corp now owns 7,420 shares of the company's stock worth $769,000 after buying an additional 199 shares during the period. Price T Rowe Associates Inc. MD increased its position in FirstCash by 16.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 26,989 shares of the company's stock worth $2,797,000 after buying an additional 3,846 shares during the period. Northern Trust Corp increased its position in FirstCash by 9.4% in the 4th quarter. Northern Trust Corp now owns 585,302 shares of the company's stock worth $60,637,000 after buying an additional 50,183 shares during the period. AQR Capital Management LLC increased its position in FirstCash by 24.7% in the 4th quarter. AQR Capital Management LLC now owns 190,943 shares of the company's stock worth $19,730,000 after buying an additional 37,879 shares during the period. Finally, Algert Global LLC increased its position in FirstCash by 81.8% in the 4th quarter. Algert Global LLC now owns 22,633 shares of the company's stock worth $2,345,000 after buying an additional 10,183 shares during the period. 80.30% of the stock is owned by institutional investors.

FirstCash Price Performance

FCFS stock traded up $1.21 during trading on Thursday, hitting $150.95. The company had a trading volume of 86,373 shares, compared to its average volume of 305,188. The company has a fifty day moving average price of $136.12 and a two-hundred day moving average price of $127.84. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.70 billion, a P/E ratio of 23.19 and a beta of 0.70. FirstCash Holdings, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $150.81.

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

FirstCash Increases Dividend

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

Insiders Place Their Bets

In other FirstCash news, insider Howard F. Hambleton sold 3,900 shares of FirstCash stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total value of $510,627.00. Following the completion of the transaction, the insider owned 32,481 shares in the company, valued at approximately $4,252,737.33. The trade was a 10.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO R Douglas Orr sold 3,000 shares of FirstCash stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $148.41, for a total value of $445,230.00. Following the completion of the transaction, the chief financial officer owned 97,567 shares of the company's stock, valued at approximately $14,479,918.47. The trade was a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,400 shares of company stock worth $16,004,237. 2.93% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Capital One Financial set a $160.00 price objective on FirstCash in a report on Tuesday, August 5th. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Jefferies Financial Group raised FirstCash to a "strong-buy" rating in a report on Monday, August 18th. Finally, Cowen reissued a "buy" rating on shares of FirstCash in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target 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.