Wellington Management Group LLP Lowers Holdings in FirstCash Holdings, Inc. $FCFS

Wellington Management Group LLP reduced its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 185,730 shares of the company’s stock after selling 8,124 shares during the quarter. Wellington Management Group LLP’s holdings in FirstCash were worth $40,177,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Harbor Investment Advisory LLC purchased a new stake in shares of FirstCash in the first quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new position in FirstCash during the first quarter valued at approximately $29,000. CIBC Private Wealth Group LLC lifted its holdings in FirstCash by 490.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after acquiring an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in FirstCash in the second quarter valued at approximately $34,000. Finally, Assetmark Inc. boosted its position in FirstCash by 113.2% in the 1st quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Activity at FirstCash

In related news, COO Thomas Stuart sold 5,348 shares of FirstCash stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total value of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares in the company, valued at approximately $29,081,935.74. The trade was a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of FirstCash stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the sale, the chief financial officer owned 34,734 shares in the company, valued at approximately $7,502,544. The trade was a 5.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,098 shares of company stock valued at $3,051,281. 2.86% of the stock is owned by corporate insiders.

FirstCash Price Performance

FirstCash stock opened at $225.62 on Friday. The company’s fifty day moving average price is $214.19 and its 200 day moving average price is $210.01. FirstCash Holdings, Inc. has a 1 year low of $144.56 and a 1 year high of $238.93. The stock has a market capitalization of $9.79 billion, a P/E ratio of 25.76 and a beta of 0.53. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.34 earnings per share. As a group, equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 14th. FirstCash’s dividend payout ratio is 19.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on FCFS shares. TD Cowen raised their price objective on shares of FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Loop Capital raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a report on Monday, August 10th. Wall Street Zen lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings cut shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, FirstCash presently has a consensus rating of “Moderate Buy” and an average price target 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.