Fourth Sail Capital LP Takes $17.44 Million Position in FirstCash Holdings, Inc. $FCFS

Key Points

• Fourth Sail Capital LP opened a new position in FirstCash Holdings, buying 109,416 shares valued at about $17.44 million. The stake represents roughly 2.8% of its portfolio and about 0.25% of FirstCash’s shares outstanding.
• FirstCash reported a strong quarter, posting $2.69 EPS versus the $2.30 consensus and $1.05 billion in revenue versus expectations of $1.0 billion. Revenue rose 25.7% year over year, and analysts expect full-year EPS of 11.3.
• Insider selling has been notable, with SVP Raul Ramos and COO Thomas Brent Stuart selling shares in recent transactions. In the last 90 days, insiders sold 27,500 shares worth about $6.24 million, while institutional investors still own about 80.3% of the stock.

Fourth Sail Capital LP acquired a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 109,416 shares of the company's stock, valued at approximately $17,439,000. FirstCash accounts for approximately 2.8% of Fourth Sail Capital LP's investment portfolio, making the stock its 18th largest position. Fourth Sail Capital LP owned approximately 0.25% of FirstCash at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FCFS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of FirstCash by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company's stock valued at $2,761,000 after purchasing an additional 1,021 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of FirstCash by 9.7% in the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company's stock valued at $46,866,000 after purchasing an additional 34,364 shares during the period. Jane Street Group LLC increased its holdings in shares of FirstCash by 237.2% in the first quarter. Jane Street Group LLC now owns 62,057 shares of the company's stock valued at $7,467,000 after purchasing an additional 43,653 shares during the period. American Century Companies Inc. increased its holdings in shares of FirstCash by 4.9% in the second quarter. American Century Companies Inc. now owns 14,187 shares of the company's stock valued at $1,917,000 after purchasing an additional 666 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of FirstCash by 67.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company's stock worth $2,821,000 after buying an additional 8,402 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FirstCash

In related news, SVP Raul Ramos sold 6,835 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the sale, the senior vice president owned 20,400 shares of the company's stock, valued at approximately $4,594,692. This trade represents a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas Brent Stuart sold 10,000 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $228.49, for a total value of $2,284,900.00. Following the completion of the sale, the chief operating officer directly owned 140,846 shares of the company's stock, valued at approximately $32,181,902.54. This represents a 6.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 27,500 shares of company stock valued at $6,243,104. 2.86% of the stock is currently owned by company insiders.

FirstCash Stock Performance

NASDAQ FCFS opened at $224.89 on Friday. The company has a market cap of $9.86 billion, a PE ratio of 28.18 and a beta of 0.52. The stock's 50 day simple moving average is $216.66 and its 200-day simple moving average is $189.10. FirstCash Holdings, Inc. has a 1-year low of $119.21 and a 1-year high of $235.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.39. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The business's quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 earnings per share. As a group, equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.3 EPS for the current fiscal year.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, May 15th. FirstCash's dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

A number of analysts have recently commented on FCFS shares. Weiss Ratings downgraded FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, April 27th. Canaccord Genuity Group increased their price target on FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Zacks Research upgraded FirstCash from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 29th. TD Cowen increased their price target on FirstCash from $205.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Finally, Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, FirstCash currently has a consensus rating of "Buy" and a consensus target price of $198.00.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.