TimesSquare Capital Management LLC Acquires New Position in FirstCash Holdings, Inc. $FCFS

Key Points

• TimesSquare Capital Management acquired 45,028 FirstCash shares worth approximately $9.74 million, representing about 0.10% of the company. Institutional investors collectively own 80.30% of FCFS.
• FirstCash reported quarterly EPS of $2.50, beating estimates of $2.39, while revenue rose 29.4% year over year to $1.07 billion. Analysts maintain a “Moderate Buy” consensus with a $249 average price target.
• The company declared a quarterly dividend of $0.42 per share, equivalent to $1.68 annually and a 0.8% yield. Separately, SVP Raul Ramos sold 6,835 shares for roughly $1.54 million.

TimesSquare Capital Management LLC bought a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 45,028 shares of the company's stock, valued at approximately $9,740,000. TimesSquare Capital Management LLC owned about 0.10% of FirstCash at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of FCFS. Harbor Investment Advisory LLC bought a new position in FirstCash during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in shares of FirstCash in the 1st quarter worth approximately $29,000. CIBC Private Wealth Group LLC lifted its holdings in shares of FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company's stock worth $31,000 after acquiring an additional 162 shares during the last quarter. High Point Wealth Management LLC purchased a new stake in shares of FirstCash in the 4th quarter valued at $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of FirstCash in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

Insider Activity

In other news, SVP Raul Ramos sold 6,835 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the completion of the transaction, the senior vice president directly owned 20,400 shares of the company's stock, valued at approximately $4,594,692. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.86% of the company's stock.

Wall Street Analyst Weigh In

FCFS has been the topic of a number of analyst reports. Zacks Research cut shares of FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Canaccord Genuity Group boosted their price target on shares of FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Weiss Ratings upgraded shares of FirstCash from a "buy (b)" rating to a "buy (b+)" rating in a research report on Friday, August 7th. Loop Capital raised 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. Finally, TD Cowen lifted their price objective on FirstCash from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $249.00.

FirstCash Stock Performance

NASDAQ:FCFS opened at $216.24 on Tuesday. The firm has a market cap of $9.38 billion, a PE ratio of 24.68 and a beta of 0.53. FirstCash Holdings, Inc. has a fifty-two week low of $136.43 and a fifty-two week high of $235.97. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. The business has a 50 day moving average price of $214.64 and a 200-day moving average price of $205.91.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.03 billion. During the same quarter last year, the business earned $1.34 earnings per share. The business's revenue was up 29.4% on a year-over-year basis. Equities research analysts predict 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 will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. FirstCash's dividend payout ratio (DPR) is 19.18%.

FirstCash 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.

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