Hsbc Holdings PLC Takes $5.48 Million Position in FirstCash Holdings, Inc. $FCFS

Key Points

• HSBC Holdings PLC bought a new stake in FirstCash Holdings during the fourth quarter, purchasing 34,170 shares worth about $5.48 million and representing 0.08% of the company.
• Institutional ownership remains dominant, with 80.30% of FirstCash shares held by institutions and hedge funds. Several other investors also increased or initiated positions in the company during the quarter.
• FirstCash reported strong quarterly results, with EPS of $2.69 beating estimates and revenue of $1.05 billion topping expectations. The company also paid a quarterly dividend of $0.42 per share and carries a consensus analyst rating of Moderate Buy.

Hsbc Holdings PLC purchased a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 34,170 shares of the company's stock, valued at approximately $5,476,000. Hsbc Holdings PLC owned 0.08% of FirstCash as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. SHP Wealth Management acquired a new position in shares of FirstCash in the 4th quarter valued at $48,000. Midway Capital Research & Management acquired a new stake in FirstCash during the 4th quarter worth $2,220,000. Caitong International Asset Management Co. Ltd grew its position in FirstCash by 531.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 259 shares of the company's stock worth $41,000 after purchasing an additional 218 shares during the last quarter. Villanova Investment Management Co LLC grew its position in FirstCash by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company's stock worth $2,037,000 after purchasing an additional 54 shares during the last quarter. Finally, Invesco Ltd. grew its position in FirstCash by 8.5% during the 4th quarter. Invesco Ltd. now owns 319,972 shares of the company's stock worth $50,997,000 after purchasing an additional 25,001 shares during the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Howard F. Hambleton sold 3,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $226.41, for a total value of $679,230.00. Following the completion of the sale, the insider owned 32,406 shares in the company, valued at $7,337,042.46. This trade represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the company's 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 in the company, valued at approximately $4,594,692. This represents a 25.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 27,500 shares of company stock worth $6,243,104. Insiders own 2.86% of the company's stock.

FirstCash Stock Performance

NASDAQ FCFS opened at $221.42 on Friday. The stock has a market capitalization of $9.71 billion, a price-to-earnings ratio of 27.75 and a beta of 0.53. The business's 50 day moving average is $222.91 and its two-hundred day moving average is $197.55. FirstCash Holdings, Inc. has a 12-month low of $119.21 and a 12-month high of $235.97. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1 billion. During the same period in the previous year, the business earned $2.07 earnings per share. The company's revenue for the quarter was up 25.7% compared to the same quarter last year. Research analysts expect that FirstCash Holdings, Inc. will post 11.33 EPS for the current year.

FirstCash Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, May 15th. FirstCash's dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FCFS shares. Weiss Ratings cut shares of FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a report on Monday, April 27th. TD Cowen upped their price objective on FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday. Canaccord Genuity Group increased their price objective 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 downgraded FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.25.

FirstCash 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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