Ieq Capital LLC Takes Position in FirstCash Holdings, Inc. $FCFS

Key Points

• Ieq Capital purchased a new 6,005-share stake in FirstCash Holdings valued at approximately $1.3 million. Institutional investors collectively own 80.3% of the company.
• FirstCash reported quarterly earnings of $2.50 per share, exceeding estimates by $0.11, while revenue rose 29.4% year over year to $1.07 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $249.
• The company declared a quarterly dividend of $0.42 per share, equivalent to an annualized $1.68 payout and a 0.8% yield; insiders sold shares under pre-arranged Rule 10b5-1 plans during the past 90 days.

Ieq Capital LLC bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,005 shares of the company's stock, valued at approximately $1,299,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in FirstCash by 4.7% during 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 acquiring an additional 1,021 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of FirstCash by 9.7% during the 1st 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 last quarter. Jane Street Group LLC boosted its position 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 worth $7,467,000 after purchasing an additional 43,653 shares during the period. American Century Companies Inc. boosted its holdings in shares of FirstCash by 4.9% during the 2nd 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 last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of FirstCash by 67.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company's stock valued at $2,821,000 after acquiring an additional 8,402 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Weiss Ratings downgraded FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Zacks Research downgraded shares of FirstCash from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. TD Cowen lifted their price target on FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Finally, Loop Capital raised shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 target price for the company in a report on Monday, August 10th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, FirstCash has an average rating of "Moderate Buy" and a consensus price target of $249.00.

FirstCash Price Performance

Shares of NASDAQ:FCFS opened at $219.82 on Thursday. FirstCash Holdings, Inc. has a 52 week low of $144.56 and a 52 week high of $238.93. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. The firm's 50 day moving average is $214.43 and its two-hundred day moving average is $208.32. The firm has a market capitalization of $9.53 billion, a P/E ratio of 25.09 and a beta of 0.53.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.39 by $0.11. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business's revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. FirstCash's payout ratio is currently 19.18%.

Insider Buying and Selling

In related news, COO Thomas Brent Stuart sold 5,348 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the transaction, the chief operating officer owned 135,498 shares in the company, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R Douglas Orr sold 2,000 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the sale, the chief financial officer owned 34,734 shares in the company, valued at $7,502,544. The trade was a 5.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,183 shares of company stock valued at $3,761,228 over the last ninety days. Company insiders own 2.86% of the company's stock.

About FirstCash

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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