Insider Selling: FirstCash (NASDAQ:FCFS) Director Sells $829,500.00 in Stock

Key Points

• Director James Graves sold 3,750 FirstCash shares at an average price of $221.20, generating $829,500 and reducing his ownership by 23.92% to 11,929 shares.
• FirstCash reported quarterly revenue of $1.07 billion and adjusted earnings of $2.50 per share, beating analyst expectations; revenue increased 29.4% year over year.
• The stock traded at $223.92, near its 52-week high, while analysts maintained a “Moderate Buy” consensus with an average price target of $249. The company also pays a quarterly dividend of $0.42 per share.

FirstCash Holdings, Inc. (NASDAQ:FCFS - Get Free Report) Director James Graves sold 3,750 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $221.20, for a total value of $829,500.00. Following the transaction, the director owned 11,929 shares of the company's stock, valued at approximately $2,638,694.80. This represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

FirstCash Stock Performance

FCFS traded up $3.82 during trading hours on Thursday, hitting $223.92. The company's stock had a trading volume of 294,354 shares, compared to its average volume of 381,210. FirstCash Holdings, Inc. has a fifty-two week low of $144.56 and a fifty-two week high of $238.93. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $9.71 billion, a PE ratio of 25.56 and a beta of 0.53. The company has a 50-day simple moving average of $213.79 and a 200 day simple moving average of $209.61.

FirstCash (NASDAQ:FCFS - Get Free Report) last announced its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share 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 firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business earned $1.34 EPS. The firm's revenue for the quarter was up 29.4% on a year-over-year basis. As a group, sell-side analysts expect that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 14th. FirstCash's payout ratio is currently 19.18%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH grew its holdings in FirstCash by 0.3% during the second quarter. Allianz Asset Management GmbH now owns 61,395 shares of the company's stock worth $11,561,000 after acquiring an additional 204 shares during the period. Corient Private Wealth LP boosted its position in shares of FirstCash by 161.8% during the 2nd quarter. Corient Private Wealth LP now owns 5,749 shares of the company's stock valued at $1,244,000 after purchasing an additional 3,553 shares in the last quarter. Wellington Grp LLC boosted its position in shares of FirstCash by 9.0% during the 2nd quarter. Wellington Grp LLC now owns 10,034 shares of the company's stock valued at $2,171,000 after purchasing an additional 825 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of FirstCash in the 2nd quarter worth approximately $562,000. Finally, California State Teachers Retirement System grew its stake in shares of FirstCash by 21,984.3% in the 2nd quarter. California State Teachers Retirement System now owns 9,970,621 shares of the company's stock worth $2,156,845,000 after purchasing an additional 9,925,473 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

Analyst Upgrades and Downgrades

FCFS has been the subject of a number of recent analyst reports. TD Cowen raised their target price on shares of FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Loop Capital raised shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target for the company in a research note on Monday, August 10th. Wall Street Zen cut shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Weiss Ratings lowered shares of FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday, August 21st. Finally, Zacks Research lowered shares of FirstCash from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

FirstCash Company 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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