Livforsakringsbolaget Skandia Omsesidigt Raises Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its FirstCash stake by 27.6% in the first quarter, buying 5,800 additional shares and bringing its holdings to 26,800 shares worth about $5.0 million.
• FirstCash reported strong quarterly results, with EPS of $2.69 topping estimates and revenue of $1.05 billion exceeding forecasts; revenue also rose 25.7% year over year.
• The company’s stock has drawn mixed but generally positive analyst sentiment, with a Moderate Buy consensus and recent price targets ranging up to $252, while insiders have sold shares in recent months.

Livforsakringsbolaget Skandia Omsesidigt boosted its position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,800 shares of the company's stock after purchasing an additional 5,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned about 0.06% of FirstCash worth $5,038,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of FirstCash by 133.8% in the fourth quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company's stock valued at $89,588,000 after buying an additional 321,663 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in FirstCash by 36.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company's stock worth $186,361,000 after acquiring an additional 312,132 shares during the last quarter. AQR Capital Management LLC boosted its position in FirstCash by 67.6% during the third quarter. AQR Capital Management LLC now owns 623,059 shares of the company's stock worth $97,503,000 after acquiring an additional 251,305 shares during the last quarter. Alliancebernstein L.P. grew its stake in FirstCash by 280.5% during the 3rd quarter. Alliancebernstein L.P. now owns 305,856 shares of the company's stock valued at $48,454,000 after acquiring an additional 225,466 shares in the last quarter. Finally, Candriam S.C.A. purchased a new stake in FirstCash during the 1st quarter valued at about $28,371,000. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Price Performance

Shares of FCFS stock opened at $210.06 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42. The company has a market capitalization of $9.21 billion, a PE ratio of 26.32 and a beta of 0.53. The firm's 50-day moving average is $222.60 and its two-hundred day moving average is $198.65. FirstCash Holdings, Inc. has a 12 month low of $119.21 and a 12 month high of $235.97.

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 the consensus estimate of $2.30 by $0.39. The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1 billion. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The business's revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.07 EPS. Analysts predict that FirstCash Holdings, Inc. will post 11.33 earnings per share for the current year.

FirstCash Announces Dividend

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

Wall Street Analysts Forecast Growth

FCFS has been the subject of a number of recent research reports. TD Cowen increased their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Wall Street Zen cut FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Zacks Research downgraded FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Weiss Ratings lowered FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, April 27th. Finally, Canaccord Genuity Group upped their target price on FirstCash from $242.00 to $252.00 and gave the company a "buy" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.25.

Insider Buying and Selling

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction 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 sale, the senior vice president owned 20,400 shares in the company, valued at $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the company's stock in a transaction 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 transaction, the chief operating officer directly owned 140,846 shares in the company, valued at approximately $32,181,902.54. This trade represents a 6.63% 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 27,500 shares of company stock valued at $6,243,104 in the last ninety days. Company insiders own 2.86% of the company's stock.

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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