Geode Capital Management LLC Purchases 31,550 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• Geode Capital Management increased its FirstCash stake by 3.1% in the fourth quarter, buying 31,550 shares and bringing its total holding to 1,043,699 shares worth about $166.4 million.
• FirstCash has seen generally positive analyst sentiment, with several firms raising price targets or upgrading ratings; the consensus rating is “Buy” with an average target price of $198.
• The company reported strong quarterly results, posting EPS of $2.69 versus $2.30 expected and revenue of $1.05 billion, while also paying a quarterly dividend of $0.42 per share.

Geode Capital Management LLC increased its position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,043,699 shares of the company's stock after purchasing an additional 31,550 shares during the quarter. Geode Capital Management LLC owned approximately 2.36% of FirstCash worth $166,367,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCFS. Rothschild Investment LLC boosted its stake in shares of FirstCash by 127.8% in the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company's stock valued at $29,000 after purchasing an additional 101 shares during the last quarter. Community Bank N.A. acquired a new stake in shares of FirstCash during the 3rd quarter worth approximately $32,000. High Point Wealth Management LLC acquired a new stake in shares of FirstCash during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC grew its position in shares of FirstCash by 70.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 220 shares of the company's stock worth $34,000 after buying an additional 91 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of FirstCash during the 3rd quarter worth approximately $48,000. 80.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on FCFS shares. TD Cowen lifted their price target on shares of FirstCash from $205.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Weiss Ratings cut shares of FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Monday, April 27th. Canaccord Genuity Group lifted their price target on shares of 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 shares of FirstCash from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a research note 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 given a Hold rating to the company. According to data from MarketBeat.com, FirstCash has an average rating of "Buy" and a consensus target price of $198.00.

FirstCash Trading Up 5.2%

NASDAQ:FCFS opened at $220.18 on Thursday. FirstCash Holdings, Inc. has a 1-year low of $119.21 and a 1-year high of $235.97. The business's 50-day moving average price is $212.32 and its two-hundred day moving average price is $185.99. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 27.59 and a beta of 0.52.

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. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The company's quarterly revenue was up 25.7% on a year-over-year basis. On average, equities analysts expect that FirstCash Holdings, Inc. will post 11.3 earnings per share for the current year.

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.68 annualized dividend and a yield of 0.8%. FirstCash's dividend payout ratio is presently 21.05%.

Insider Transactions at FirstCash

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $227.29, for a total value of $454,580.00. Following the transaction, the chief financial officer owned 35,734 shares of the company's stock, valued at approximately $8,121,980.86. This represents a 5.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 10,000 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $228.49, for a total value of $2,284,900.00. Following the sale, the chief operating officer directly owned 140,846 shares in the company, valued at approximately $32,181,902.54. This represents a 6.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 20,665 shares of company stock valued at $4,703,656. Corporate 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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