Nuveen LLC Acquires Shares of 459,944 FirstCash Holdings, Inc. $FCFS

Key Points

• Nuveen LLC acquired 459,944 shares of FirstCash Holdings, Inc. worth approximately $55.3 million, representing about 1.04% ownership after its 1st quarter purchase.
• FirstCash announced a quarterly dividend increase to $0.42 per share, resulting in an annualized dividend of $1.68 with a 1.2% yield.
• The company reported $1.79 EPS, exceeding the expected $1.66 EPS, alongside revenue of $830.62 million for the last quarter.

Nuveen LLC acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 459,944 shares of the company's stock, valued at approximately $55,340,000. Nuveen LLC owned about 1.04% of FirstCash as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of FirstCash by 808.0% in the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after purchasing an additional 202 shares in the last quarter. CX Institutional purchased a new stake in shares of FirstCash in the first quarter valued at approximately $42,000. UMB Bank n.a. grew its position in shares of FirstCash by 167.5% in the first quarter. UMB Bank n.a. now owns 452 shares of the company's stock valued at $54,000 after purchasing an additional 283 shares in the last quarter. CWM LLC lifted its holdings in FirstCash by 92.9% in the first quarter. CWM LLC now owns 517 shares of the company's stock valued at $62,000 after acquiring an additional 249 shares during the last quarter. Finally, Quarry LP lifted its holdings in FirstCash by 986.5% in the fourth quarter. Quarry LP now owns 565 shares of the company's stock valued at $59,000 after acquiring an additional 513 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company's stock.

Wall Street Analysts Forecast Growth

FCFS has been the topic of a number of research analyst reports. Capital One Financial set a $160.00 price target on shares of FirstCash in a research note on Tuesday, August 5th. Wall Street Zen cut FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Cowen restated a "buy" rating on shares of FirstCash in a research note on Monday. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $142.33.

Insider Buying and Selling at FirstCash

In other news, insider Howard F. Hambleton sold 3,900 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $130.93, for a total transaction of $510,627.00. Following the completion of the sale, the insider directly owned 32,481 shares of the company's stock, valued at $4,252,737.33. The trade was a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Graves sold 6,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $134.56, for a total transaction of $807,360.00. Following the sale, the director directly owned 15,846 shares of the company's stock, valued at $2,132,237.76. This represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.77% of the company's stock.

FirstCash Stock Performance

FCFS traded up $0.1250 during trading on Tuesday, reaching $138.5750. The company's stock had a trading volume of 19,191 shares, compared to its average volume of 303,766. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $141.56. The company's fifty day moving average price is $132.54 and its 200-day moving average price is $125.39. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 21.29 and a beta of 0.68. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.12 and a current ratio of 4.21.

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

FirstCash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.42 dividend. This is a boost from FirstCash's previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 15th. This represents a $1.68 annualized dividend and a yield of 1.2%. FirstCash's payout ratio is presently 25.81%.

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.