Wellington Grp LLC Buys 9,188 Shares of FirstCash Holdings, Inc. $FCFS

Key Points

• Wellington Group LLC increased its FirstCash stake by 43,752.4% in the first quarter, buying 9,188 additional shares for a total holding of 9,209 shares valued at $1.73 million. Institutional investors collectively own 80.3% of FCFS.
• FirstCash reported quarterly revenue of $1.07 billion, up 29.4% year over year, and EPS of $2.50, beating analyst expectations of $2.39. The company also declared a quarterly dividend of $0.42 per share, yielding approximately 0.8%.
• Analysts maintain a “Moderate Buy” consensus, with price targets as high as $252, although some firms recently downgraded the stock. FCFS opened at $204.01, below its 50-day moving average of $217.36 but above its 200-day average of $202.48.

Wellington Grp LLC grew its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 43,752.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,209 shares of the company's stock after buying an additional 9,188 shares during the period. Wellington Grp LLC's holdings in FirstCash were worth $1,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in FCFS. Harbor Investment Advisory LLC bought a new position in FirstCash in the first quarter valued at $26,000. Geneos Wealth Management Inc. purchased a new position in shares of FirstCash in the 1st quarter worth about $29,000. Assetmark Inc. increased its position in shares of FirstCash by 113.2% during the 1st quarter. Assetmark Inc. now owns 194 shares of the company's stock valued at $36,000 after purchasing an additional 103 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of FirstCash by 490.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company's stock valued at $31,000 after buying an additional 162 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new stake in FirstCash in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 80.30% of the company's stock.

FirstCash Price Performance

Shares of NASDAQ FCFS opened at $204.01 on Friday. FirstCash Holdings, Inc. has a 1 year low of $128.90 and a 1 year high of $235.97. The company's 50-day moving average is $217.36 and its 200 day moving average is $202.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The stock has a market capitalization of $8.85 billion, a P/E ratio of 23.29 and a beta of 0.53.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The company's revenue for the quarter was up 29.4% on a year-over-year basis. On average, sell-side analysts expect that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.42 per share. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FCFS. Weiss Ratings cut shares of FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Zacks Research cut shares of FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of FirstCash from a "strong-buy" rating to a "buy" rating in a research report on Sunday, May 10th. TD Cowen raised their price objective on FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, Canaccord Genuity Group lifted their price objective on FirstCash from $242.00 to $252.00 and gave the stock a "buy" rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.25.

Insider Buying and Selling at FirstCash

In related news, COO Thomas Brent Stuart sold 10,000 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $228.49, for a total transaction of $2,284,900.00. Following the sale, the chief operating officer owned 140,846 shares of the company's stock, valued at $32,181,902.54. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard F. Hambleton sold 3,000 shares of the company's stock in a transaction dated 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 sale, the insider owned 32,406 shares in the company, valued at approximately $7,337,042.46. This trade represents a 8.47% decrease in their position. 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 90 days, insiders sold 26,000 shares of company stock valued at $5,917,004. Insiders own 2.86% of the company's stock.

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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