Public Employees Retirement System of Ohio Takes $8.06 Million Position in FirstCash Holdings, Inc. $FCFS

Key Points

• Public Employees Retirement System of Ohio acquired 37,272 FirstCash shares worth approximately $8.06 million, while institutional investors collectively owned 80.3% of the company.
• FirstCash exceeded quarterly expectations, reporting $2.50 in EPS and $1.07 billion in revenue—up 29.4% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $249 target price.
• Insiders sold 17,183 shares worth $3.76 million during the past quarter, while FirstCash paid a quarterly dividend of $0.42 per share, representing a 0.8% annualized yield.

Public Employees Retirement System of Ohio acquired a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 37,272 shares of the company's stock, valued at approximately $8,063,000. Public Employees Retirement System of Ohio owned about 0.09% of FirstCash at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of FCFS. BlackRock Inc. acquired a new stake in FirstCash in the second quarter worth about $1,088,429,000. Bank of America Corp DE bought a new stake in FirstCash during the 2nd quarter worth about $248,059,000. Bank of New York Mellon Corp acquired a new position in FirstCash during the 2nd quarter valued at about $69,779,000. JPMorgan Chase & Co. boosted its stake in shares of FirstCash by 133.8% in the 4th quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company's stock valued at $89,588,000 after purchasing an additional 321,663 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company's stock valued at $186,361,000 after purchasing an additional 312,132 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

Insider Activity

In other news, SVP Raul Ramos sold 6,835 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the transaction, the senior vice president owned 20,400 shares of the company's stock, valued at $4,594,692. The trade was a 25.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas Brent Stuart sold 5,348 shares of the company's stock in a transaction 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 sale, the chief operating officer owned 135,498 shares of the company's stock, valued at approximately $29,081,935.74. This represents a 3.80% 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 17,183 shares of company stock worth $3,761,228 over the last quarter. Corporate insiders own 2.86% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FCFS shares. Wall Street Zen downgraded shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Loop Capital raised shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price objective on the stock in a research note on Monday, August 10th. TD Cowen upped their target price 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. Weiss Ratings lowered FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, August 21st. Finally, Zacks Research cut FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

FirstCash Stock Performance

Shares of NASDAQ:FCFS opened at $214.47 on Tuesday. The company has a market capitalization of $9.30 billion, a price-to-earnings ratio of 24.48 and a beta of 0.53. The firm's 50 day simple moving average is $213.93 and its 200 day simple moving average is $209.10. 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 fifty-two week low of $144.56 and a fifty-two week high of $238.93.

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

FirstCash Announces Dividend

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

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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