Insider Selling: FirstCash (NASDAQ:FCFS) Insider Sells $425,960.00 in Stock

Key Points

• FirstCash insider Howard Hambleton sold 2,000 shares for approximately $425,960 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 6.17% to 30,406 shares.
• FirstCash shares fell 1.6% to $212.74 during Tuesday trading. The company recently exceeded quarterly earnings and revenue expectations, reporting $2.50 EPS and $1.07 billion in revenue, with revenue up 29.4% year over year.
• The company declared a quarterly dividend of $0.42 per share, equal to an annualized $1.68 and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $249.

FirstCash Holdings, Inc. (NASDAQ:FCFS - Get Free Report) insider Howard Hambleton sold 2,000 shares of FirstCash stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total transaction of $425,960.00. Following the transaction, the insider directly owned 30,406 shares in the company, valued at approximately $6,475,869.88. This trade represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

FirstCash Trading Down 1.6%

Shares of FirstCash stock traded down $3.50 during trading hours on Tuesday, hitting $212.74. The company's stock had a trading volume of 236,745 shares, compared to its average volume of 373,423. The business has a fifty day moving average of $214.64 and a 200 day moving average of $205.91. FirstCash Holdings, Inc. has a 1-year low of $137.31 and a 1-year high of $235.97. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $9.23 billion, a PE ratio of 24.29 and a beta of 0.53.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted 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 net margin of 9.42% and a return on equity of 19.65%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $1.34 EPS. The business's quarterly revenue was up 29.4% on a year-over-year basis. As a group, equities analysts forecast that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.42 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. FirstCash's dividend payout ratio (DPR) is 19.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wall Street Zen cut FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Weiss Ratings raised shares of FirstCash from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, August 7th. Loop Capital upgraded shares of FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price objective on the stock in a report on Monday, August 10th. Zacks Research cut shares of FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, Canaccord Genuity Group raised their target price on FirstCash from $242.00 to $252.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $249.00.

Hedge Funds Weigh In On FirstCash

Several institutional investors and hedge funds have recently made changes to their positions in FCFS. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of FirstCash during the second quarter worth approximately $6,143,000. AWH Capital L.P. acquired a new stake in FirstCash in the second quarter valued at $10,632,128,000. Formula Growth Ltd. acquired a new stake in FirstCash in the second quarter valued at $2,163,000. Coastal Bridge Advisors LLC bought a new position in FirstCash during the 2nd quarter valued at $2,109,000. Finally, Public Employees Retirement System of Ohio bought a new position in FirstCash during the 2nd quarter valued at $8,063,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

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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