Wedmont Private Capital Takes Position in FirstCash Holdings, Inc. $FCFS

Key Points

• Wedmont Private Capital has acquired a new stake in FirstCash Holdings, Inc., purchasing 2,428 shares valued at approximately $325,000 in the second quarter.
• FirstCash recently increased its quarterly dividend from $0.38 to $0.42 per share, resulting in an annualized dividend yield of 1.1%.
• Recent earnings reports show FirstCash surpassed expectations with a net revenue of $830.62 million and earnings per share of $1.79, higher than the consensus estimate of $1.66.

Wedmont Private Capital bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,428 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors also recently made changes to their positions in the stock. Xponance Inc. grew its holdings in shares of FirstCash by 1.6% during the first quarter. Xponance Inc. now owns 5,552 shares of the company's stock valued at $668,000 after purchasing an additional 87 shares during the last quarter. MBM Wealth Consultants LLC grew its holdings in shares of FirstCash by 1.6% during the first quarter. MBM Wealth Consultants LLC now owns 5,757 shares of the company's stock valued at $693,000 after purchasing an additional 90 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of FirstCash by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,315 shares of the company's stock valued at $1,121,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of FirstCash by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company's stock valued at $1,311,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of FirstCash by 1.4% during the first quarter. State of Alaska Department of Revenue now owns 8,559 shares of the company's stock valued at $1,029,000 after purchasing an additional 120 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

FirstCash Price Performance

FCFS opened at $146.43 on Monday. The stock has a fifty day moving average of $139.04 and a 200-day moving average of $130.83. The firm has a market capitalization of $6.50 billion, a P/E ratio of 22.49 and a beta of 0.70. FirstCash Holdings, Inc. has a 12-month low of $100.24 and a 12-month high of $150.92. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79.

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

FirstCash Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FCFS. Cowen reissued a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Capital One Financial set a $160.00 price objective on FirstCash in a report on Tuesday, August 5th. Loop Capital lowered FirstCash from a "buy" rating to a "hold" rating and set a $145.00 price objective for the company. in a report on Friday, September 5th. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Finally, Jefferies Financial Group raised FirstCash to a "strong-buy" rating in a report on Monday, August 18th. One 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's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $143.00.

Insider Buying and Selling

In related news, CEO Rick L. Wessel sold 30,976 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the completion of the sale, the chief executive officer directly owned 901,982 shares in the company, valued at approximately $125,673,152.06. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO R Douglas Orr sold 2,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $146.40, for a total value of $366,000.00. Following the sale, the chief financial officer owned 41,734 shares of the company's stock, valued at approximately $6,109,857.60. This represents a 5.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,500 shares of company stock worth $15,493,610. Corporate insiders own 14.77% of the company's stock.

About FirstCash

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.