Formula Growth Ltd. bought a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,000 shares of the company's stock, valued at approximately $2,163,000.
Several other large investors also recently made changes to their positions in the business. Coastal Bridge Advisors LLC bought a new stake in FirstCash during the 2nd quarter worth about $2,109,000. Public Employees Retirement System of Ohio acquired a new stake in FirstCash in the 2nd quarter valued at about $8,063,000. Corient Private Wealth LP bought a new position in shares of FirstCash in the second quarter worth about $1,245,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of FirstCash in the second quarter worth about $8,025,472,000. Finally, Azora Capital LP acquired a new position in shares of FirstCash during the second quarter worth approximately $45,580,000. Institutional investors own 80.30% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on FCFS shares. Loop Capital upgraded FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price objective on the stock in a research report on Monday, August 10th. TD Cowen boosted their target price on FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Zacks Research lowered FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Weiss Ratings cut FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Finally, Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $249.00.
View Our Latest Analysis on FCFS
Insider Activity at FirstCash
In other news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the sale, the chief financial officer owned 34,734 shares of the company's stock, valued at $7,502,544. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm's stock in a transaction on 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 sale, the senior vice president owned 20,400 shares in the company, valued at approximately $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,183 shares of company stock worth $3,761,228 over the last ninety days. 2.86% of the stock is owned by corporate insiders.
FirstCash Stock Up 1.9%
Shares of FirstCash stock opened at $224.07 on Friday. The company has a market capitalization of $9.72 billion, a P/E ratio of 25.58 and a beta of 0.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The business has a 50-day moving average of $214.37 and a two-hundred day moving average of $208.62. FirstCash Holdings, Inc. has a 1 year low of $144.56 and a 1 year high of $238.93.
FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.34 EPS. FirstCash's revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities analysts predict that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.
FirstCash Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash's payout ratio is presently 19.18%.
About FirstCash
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding FCFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report).
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