FirstCash Holdings, Inc. $FCFS Stake Lowered by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its FirstCash stake by 76.5% in the first quarter, selling 12,372 shares and retaining 3,795 shares valued at approximately $713,000. Institutional investors collectively own 80.3% of the company.
• FirstCash reported quarterly EPS of $2.50, beating estimates of $2.39, while revenue rose 29.4% year over year to $1.07 billion. The company also announced a quarterly dividend of $0.42 per share, equivalent to a 0.8% annual yield.
• Analysts maintain a generally positive outlook, with an overall “Moderate Buy” rating and a consensus price target of $249, compared with the stock’s reported opening price of $216.24.

Empowered Funds LLC decreased its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 76.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,795 shares of the company's stock after selling 12,372 shares during the period. Empowered Funds LLC's holdings in FirstCash were worth $713,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Villanova Investment Management Co LLC grew its position in shares of FirstCash by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company's stock worth $2,037,000 after acquiring an additional 54 shares during the last quarter. Root Financial Partners LLC lifted its position in FirstCash by 29.6% in the 1st quarter. Root Financial Partners LLC now owns 245 shares of the company's stock valued at $46,000 after purchasing an additional 56 shares during the last quarter. State of Michigan Retirement System lifted its position in FirstCash by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,315 shares of the company's stock valued at $1,751,000 after purchasing an additional 100 shares during the last quarter. Assetmark Inc. boosted its stake in FirstCash by 113.2% during the 1st quarter. Assetmark Inc. now owns 194 shares of the company's stock valued at $36,000 after purchasing an additional 103 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in FirstCash by 41.6% during the 4th quarter. Farther Finance Advisors LLC now owns 361 shares of the company's stock valued at $58,000 after purchasing an additional 106 shares during the period. Institutional investors own 80.30% of the company's stock.

FirstCash Trading Up 0.7%

FirstCash stock opened at $216.24 on Tuesday. FirstCash Holdings, Inc. has a 52 week low of $136.43 and a 52 week high of $235.97. 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 firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 24.68 and a beta of 0.53. The company has a 50 day moving average price of $214.64 and a 200 day moving average price of $205.91.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.34 EPS. Research analysts forecast that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. FirstCash's dividend payout ratio (DPR) is presently 19.18%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. TD Cowen boosted their price target on FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Loop Capital raised FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target for the company in a research note on Monday, August 10th. Weiss Ratings raised FirstCash from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, August 7th. Finally, Canaccord Genuity Group raised their price objective on shares of FirstCash from $242.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $249.00.

Insider Buying and Selling

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the transaction, the senior vice president owned 20,400 shares of the company's stock, valued at $4,594,692. The trade was a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.86% of the company's stock.

FirstCash Company 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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