Townsquare Capital LLC Invests $824,000 in FirstCash Holdings, Inc. $FCFS

Key Points

• Townsquare Capital LLC acquired a new stake in FirstCash Holdings, Inc., purchasing 6,850 shares valued at approximately $824,000 during the first quarter.
• FirstCash recently announced an increase in its quarterly dividend to $0.42 per share, reflecting an annualized dividend of $1.68 and a yield of 1.2%.
• FirstCash's financial performance topped analysts' expectations, reporting $1.79 EPS for the quarter, up from $1.37 EPS in the same quarter last year, with a revenue increase to $830.62 million.

Townsquare Capital LLC acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,850 shares of the company's stock, valued at approximately $824,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in FirstCash by 808.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the company's stock valued at $27,000 after acquiring an additional 202 shares during the period. CX Institutional acquired a new stake in FirstCash during the 1st quarter valued at approximately $42,000. UMB Bank n.a. lifted its stake in FirstCash by 167.5% during the 1st quarter. UMB Bank n.a. now owns 452 shares of the company's stock valued at $54,000 after acquiring an additional 283 shares during the period. Quarry LP lifted its stake in FirstCash by 986.5% during the 4th quarter. Quarry LP now owns 565 shares of the company's stock valued at $59,000 after acquiring an additional 513 shares during the period. Finally, CWM LLC increased its holdings in shares of FirstCash by 92.9% during the 1st quarter. CWM LLC now owns 517 shares of the company's stock valued at $62,000 after purchasing an additional 249 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director James H. Graves sold 6,000 shares of the company's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $134.56, for a total transaction of $807,360.00. Following the completion of the sale, the director owned 15,846 shares of the company's stock, valued at $2,132,237.76. This represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard F. Hambleton sold 3,900 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total transaction of $510,627.00. Following the sale, the insider directly owned 32,481 shares of the company's stock, valued at $4,252,737.33. The trade was a 10.72% decrease in their position. The disclosure for this sale can be found here. 14.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FCFS shares. Cowen reaffirmed a "buy" rating on shares of FirstCash in a report on Monday. Capital One Financial set a $160.00 target price on shares of FirstCash in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $142.33.

FirstCash Price Performance

NASDAQ FCFS traded down $0.82 on Tuesday, hitting $137.63. The company had a trading volume of 135,456 shares, compared to its average volume of 304,529. The company has a market capitalization of $6.11 billion, a PE ratio of 21.14 and a beta of 0.68. The company's fifty day moving average price is $132.54 and its 200-day moving average price is $125.39. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. FirstCash Holdings, Inc. has a 12-month low of $100.24 and a 12-month high of $141.56.

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

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.2%. FirstCash's payout ratio is currently 25.81%.

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.