Sheets Smith Wealth Management Purchases Shares of 4,811 FirstCash Holdings, Inc. $FCFS

Key Points

• Sheets Smith Wealth Management purchased 4,811 shares of FirstCash Holdings, Inc., valued at approximately $650,000, during the second quarter.
• FirstCash reported an EPS of $1.79 for the last quarter, surpassing estimates, and announced a quarterly dividend increase to $0.42 per share.
• Insider transactions include the sale of 69,024 shares by CEO Rick L. Wessel, leading to a 6.89% decrease in ownership for him.

Sheets Smith Wealth Management bought a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,811 shares of the company's stock, valued at approximately $650,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCFS. Farther Finance Advisors LLC grew its stake in shares of FirstCash by 808.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock worth $27,000 after acquiring an additional 202 shares in the last quarter. CX Institutional bought a new stake in FirstCash during the 1st quarter worth about $42,000. UMB Bank n.a. lifted its position in FirstCash by 167.5% during the 1st quarter. UMB Bank n.a. now owns 452 shares of the company's stock worth $54,000 after buying an additional 283 shares in the last quarter. CWM LLC lifted its position in FirstCash by 92.9% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock worth $62,000 after buying an additional 249 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of FirstCash in the first quarter valued at about $65,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Insider Transactions at FirstCash

In other news, Director James H. Graves sold 6,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $134.56, for a total transaction of $807,360.00. Following the transaction, the director owned 15,846 shares in the company, valued at approximately $2,132,237.76. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rick L. Wessel sold 69,024 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $138.49, for a total value of $9,559,133.76. Following the completion of the transaction, the chief executive officer directly owned 932,958 shares in the company, valued at approximately $129,205,353.42. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,500 shares of company stock worth $15,493,610. Company insiders own 2.93% of the company's stock.

FirstCash Stock Up 1.0%

FCFS opened at $150.25 on Thursday. FirstCash Holdings, Inc. has a 1-year low of $100.24 and a 1-year high of $150.92. The stock has a market cap of $6.67 billion, a PE ratio of 23.08 and a beta of 0.70. The stock's fifty day simple moving average is $140.13 and its 200 day simple moving average is $131.30. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.66 by $0.13. The firm had revenue of $830.62 million for the quarter, compared to the consensus estimate of $820.42 million. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The company's quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.37 earnings per share. As a group, research analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from FirstCash's previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 15th. FirstCash's dividend payout ratio is 25.81%.

Analyst Ratings Changes

Several research firms recently issued reports on FCFS. Jefferies Financial Group upgraded FirstCash to a "strong-buy" rating in a report on Monday, August 18th. Wall Street Zen downgraded FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Loop Capital lowered shares of FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price target on the stock. in a research report on Friday, September 5th. Capital One Financial set a $160.00 price target on shares of FirstCash in a research report on Tuesday, August 5th. Finally, Cowen restated a "buy" rating on shares of FirstCash in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, FirstCash presently has an average rating of "Buy" and an average price target of $143.00.

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.

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