PEAK6 LLC Acquires New Holdings in FirstCash Holdings, Inc. $FCFS

Key Points

• PEAK6 LLC initiated a position in FirstCash Holdings during the second quarter, purchasing 9,442 shares valued at approximately $2.04 million. Institutional investors and hedge funds collectively own 80.3% of the company.
• FirstCash reported stronger-than-expected quarterly results, with EPS of $2.50 versus the $2.39 consensus and revenue of $1.07 billion, up 29.4% year over year.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $249.

PEAK6 LLC bought a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,442 shares of the company's stock, valued at approximately $2,042,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FCFS. BlackRock Inc. acquired a new stake in shares of FirstCash in the second quarter worth $1,088,429,000. Bank of New York Mellon Corp acquired a new position in FirstCash during the 2nd quarter worth $69,779,000. JPMorgan Chase & Co. lifted its position in FirstCash by 133.8% during the 4th quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company's stock worth $89,588,000 after acquiring an additional 321,663 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 valued at $186,361,000 after acquiring an additional 312,132 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of FirstCash by 67.6% in the third quarter. AQR Capital Management LLC now owns 623,059 shares of the company's stock worth $97,503,000 after purchasing an additional 251,305 shares during the period. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Price Performance

Shares of FCFS stock opened at $225.28 on Monday. The stock's fifty day simple moving average is $214.07 and its 200 day simple moving average is $207.16. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. FirstCash Holdings, Inc. has a one year low of $138.34 and a one year high of $235.97. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 25.72 and a beta of 0.53.

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

FirstCash Dividend Announcement

The business also recently announced 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. FirstCash's dividend payout ratio is presently 19.18%.

Insider Transactions at FirstCash

In other news, insider Howard F. Hambleton sold 2,000 shares of FirstCash stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the sale, the insider directly owned 30,406 shares of the company's stock, valued at approximately $6,475,869.88. This trade represents a 6.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction 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 transaction, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. This trade represents a 5.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,348 shares of company stock worth $4,492,755 in the last quarter. 2.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on FCFS shares. Weiss Ratings downgraded FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday. TD Cowen upped their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Wall Street Zen cut shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Loop Capital raised FirstCash from a "hold" rating to a "buy" rating and set a $255.00 target price on the stock in a research report on Monday, August 10th. Finally, Zacks Research lowered FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, FirstCash presently has an average rating of "Moderate Buy" and a consensus price target of $249.00.

FirstCash Company 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.

Want to see what other hedge funds are holding FCFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report).

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