Bryce Point Capital LLC Sells 7,913 Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS)

Key Points

• Bryce Point Capital LLC significantly reduced its stake in FirstCash Holdings by 50.9%, now holding 7,648 shares valued at $869,000.
• FirstCash Holdings reported earnings of $1.79 per share for the last quarter, surpassing analysts' estimates by $0.13 and achieving a revenue of $830.62 million.
• The company announced an increase in its quarterly dividend to $0.42 per share, effective August 29, 2023, reflecting an upward change from the previous $0.38.

Bryce Point Capital LLC lessened its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 50.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,648 shares of the company's stock after selling 7,913 shares during the quarter. Bryce Point Capital LLC's holdings in FirstCash were worth $869,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in FirstCash by 1.2% during the first quarter. Principal Financial Group Inc. now owns 132,236 shares of the company's stock worth $15,911,000 after buying an additional 1,629 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of FirstCash by 8.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,429 shares of the company's stock worth $413,000 after acquiring an additional 265 shares during the period. Freedom Day Solutions LLC bought a new stake in shares of FirstCash during the first quarter worth approximately $1,524,000. JPMorgan Chase & Co. boosted its holdings in shares of FirstCash by 67.6% during the fourth quarter. JPMorgan Chase & Co. now owns 268,732 shares of the company's stock worth $27,841,000 after acquiring an additional 108,353 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of FirstCash by 18.2% during the first quarter. Teacher Retirement System of Texas now owns 11,522 shares of the company's stock worth $1,386,000 after acquiring an additional 1,771 shares during the period. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Price Performance

Shares of FCFS stock traded down $2.37 during trading on Monday, hitting $120.08. The company had a trading volume of 338,946 shares, compared to its average volume of 256,601. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.12 and a current ratio of 4.21. The firm has a market capitalization of $5.33 billion, a P/E ratio of 18.45 and a beta of 0.62. The stock's 50-day moving average price is $130.26 and its 200 day moving average price is $122.99. FirstCash Holdings, Inc. has a one year low of $100.24 and a one year high of $138.42.

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

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a boost from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a yield of 1.40%. FirstCash's dividend payout ratio is presently 23.35%.

Insiders Place Their Bets

In other FirstCash news, insider Howard F. Hambleton sold 3,900 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total transaction of $510,627.00. Following the completion of the sale, the insider directly owned 32,481 shares in the company, valued at $4,252,737.33. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 14.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th.

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.