Rockefeller Capital Management L.P. Trims Stake in FirstCash Holdings, Inc. $FCFS

Key Points

• Rockefeller Capital Management cut its FirstCash stake by 23.8% in the fourth quarter, selling 75,581 shares and ending with 241,708 shares valued at about $38.5 million.
• Insider selling also picked up, with SVP Raul Ramos and insider Howard F. Hambleton both reducing their holdings; company insiders sold 27,500 shares in the last quarter.
• FirstCash posted strong results last quarter, beating EPS and revenue estimates, while analysts remain mostly positive with a consensus Buy rating and a $198 average price target.

Rockefeller Capital Management L.P. lessened its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,708 shares of the company's stock after selling 75,581 shares during the period. Rockefeller Capital Management L.P. owned about 0.55% of FirstCash worth $38,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FCFS. Villanova Investment Management Co LLC boosted its holdings in FirstCash by 0.4% during the fourth quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company's stock worth $2,037,000 after buying an additional 54 shares in the last quarter. Ascent Group LLC raised its position in shares of FirstCash by 6.0% in the fourth quarter. Ascent Group LLC now owns 1,423 shares of the company's stock worth $227,000 after acquiring an additional 81 shares during the period. Pullen Investment Management LLC raised its position in shares of FirstCash by 0.4% in the fourth quarter. Pullen Investment Management LLC now owns 20,263 shares of the company's stock worth $3,230,000 after acquiring an additional 87 shares during the period. Yousif Capital Management LLC boosted its stake in shares of FirstCash by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 8,260 shares of the company's stock worth $1,393,000 after acquiring an additional 89 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of FirstCash by 41.6% during the 4th quarter. Farther Finance Advisors LLC now owns 361 shares of the company's stock worth $58,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

Insider Transactions at FirstCash

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of the stock in a transaction dated 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 sale, the senior vice president owned 20,400 shares in the company, valued at approximately $4,594,692. This represents a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard F. Hambleton sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total transaction of $679,230.00. Following the completion of the transaction, the insider directly owned 32,406 shares in the company, valued at $7,337,042.46. This trade represents a 8.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 27,500 shares of company stock valued at $6,243,104. Company insiders own 2.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on FirstCash from $242.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. Zacks Research raised FirstCash from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. Weiss Ratings downgraded FirstCash from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Monday, April 27th. Finally, TD Cowen increased their target price on FirstCash from $205.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $198.00.

FirstCash Stock Performance

Shares of FirstCash stock opened at $227.05 on Monday. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. FirstCash Holdings, Inc. has a twelve month low of $119.21 and a twelve month high of $235.97. The firm has a market capitalization of $9.95 billion, a PE ratio of 28.45 and a beta of 0.52. The firm's 50-day moving average price is $219.43 and its 200 day moving average price is $191.69.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.30 by $0.39. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1 billion. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.FirstCash's quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.07 EPS. On average, sell-side analysts predict that FirstCash Holdings, Inc. will post 11.3 EPS for the current fiscal year.

FirstCash Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, May 15th. FirstCash's dividend payout ratio is 21.05%.

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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