Livforsakringsbolaget Skandia Omsesidigt Acquires 233,600 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in FirstCash Holdings, Inc. by 1,350.3%, owning $33.91 million worth of shares after acquiring an additional 233,600 shares during the second quarter.
• FirstCash recently announced a quarterly dividend increase, boosting it from $0.38 to $0.42, representing an annual yield of 1.1%.
• Analysts have varied ratings on FirstCash, with one upgrade to a "strong-buy" and a consensus target price of $143.00, reflecting a generally positive outlook for the stock.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 1,350.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 250,900 shares of the company's stock after purchasing an additional 233,600 shares during the quarter. FirstCash accounts for about 0.0% of Livforsakringsbolaget Skandia Omsesidigt's holdings, making the stock its 24th largest position. Livforsakringsbolaget Skandia Omsesidigt owned about 0.57% of FirstCash worth $33,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FCFS. Farther Finance Advisors LLC increased its position in shares of FirstCash by 808.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after buying an additional 202 shares during the period. CX Institutional bought a new stake in shares of FirstCash during the first quarter valued at about $42,000. UMB Bank n.a. increased its holdings in FirstCash by 167.5% during the 1st quarter. UMB Bank n.a. now owns 452 shares of the company's stock worth $54,000 after acquiring an additional 283 shares during the period. CWM LLC increased its holdings in FirstCash by 92.9% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $62,000 after acquiring an additional 249 shares during the period. Finally, State of Wyoming bought a new stake in FirstCash during the 1st quarter worth approximately $65,000. 80.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FCFS has been the topic of several research analyst reports. Cowen reaffirmed a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Capital One Financial set a $160.00 price target on shares of FirstCash in a report on Tuesday, August 5th. Jefferies Financial Group upgraded FirstCash to a "strong-buy" rating in a research note on Monday, August 18th. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Loop Capital cut shares of FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price objective on the stock. in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, FirstCash presently has an average rating of "Buy" and a consensus price target of $143.00.

FirstCash Trading Down 1.4%

FirstCash stock traded down $2.13 during trading hours on Friday, reaching $146.43. The stock had a trading volume of 592,199 shares, compared to its average volume of 238,897. The stock has a market cap of $6.50 billion, a PE ratio of 22.49 and a beta of 0.70. FirstCash Holdings, Inc. has a 52 week low of $100.24 and a 52 week high of $150.92. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. The company has a fifty day simple moving average of $139.04 and a 200-day simple moving average of $130.60.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.13. The company had revenue of $830.62 million for the quarter, compared to analysts' expectations of $820.42 million. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.FirstCash's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. Analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.42 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from FirstCash's previous quarterly dividend of $0.38. FirstCash's dividend payout ratio is 25.81%.

Insider Activity at FirstCash

In related news, Director James H. Graves sold 6,000 shares of FirstCash stock in a transaction on Monday, August 4th. The shares were sold at an average price of $134.56, for a total value of $807,360.00. Following the sale, the director owned 15,846 shares in the company, valued at $2,132,237.76. The trade was a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO R Douglas Orr sold 2,500 shares of FirstCash stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $146.40, for a total transaction of $366,000.00. Following the completion of the sale, the chief financial officer owned 41,734 shares in the company, valued at approximately $6,109,857.60. This trade represents a 5.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,500 shares of company stock worth $15,493,610 over the last quarter. Corporate insiders own 2.93% of the company's stock.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.