FirstCash Holdings, Inc. $FCFS Stock Purchased by Sigma Planning Corp

Sigma Planning Corp grew its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 73.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,184 shares of the company’s stock after buying an additional 3,475 shares during the period. Sigma Planning Corp’s holdings in FirstCash were worth $1,729,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCFS. Harbor Investment Advisory LLC purchased a new position in FirstCash in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. purchased a new stake in FirstCash during the 1st quarter valued at approximately $29,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in FirstCash during the 2nd quarter valued at approximately $34,000. Assetmark Inc. grew its holdings in FirstCash by 113.2% during the 1st quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after buying an additional 103 shares in the last quarter. Finally, Root Financial Partners LLC raised its position in shares of FirstCash by 29.6% during the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock valued at $46,000 after buying an additional 56 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

FirstCash Price Performance

FirstCash stock opened at $190.02 on Thursday. The company has a market cap of $8.24 billion, a price-to-earnings ratio of 20.59 and a beta of 0.55. The firm’s fifty day moving average is $214.39 and its 200 day moving average is $205.68. The company has a quick ratio of 3.42, a current ratio of 4.81 and a debt-to-equity ratio of 1.08. FirstCash Holdings, Inc. has a 52-week low of $146.77 and a 52-week high of $238.93.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, October 22nd. The company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.63 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. FirstCash’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 earnings per share. Sell-side analysts forecast that FirstCash Holdings, Inc. will post 11.03 EPS for the current fiscal year.

FirstCash announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 28th that authorizes the company to repurchase $200 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.4% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

FirstCash Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be given a $0.46 dividend. This is an increase from FirstCash’s previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, November 13th. FirstCash’s dividend payout ratio (DPR) is 18.20%.

Insider Buying and Selling

In other news, COO Thomas Stuart sold 5,348 shares of FirstCash stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the transaction, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. This represents a 5.44% decrease in their position. 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 ninety days, insiders sold 14,098 shares of company stock valued at $3,051,281. Insiders own 2.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FCFS shares. Wall Street Zen lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research note on Monday, August 10th. Stephens reissued an “overweight” rating and set a $250.00 price objective on shares of FirstCash in a report on Thursday, October 1st. TD Cowen cut their price objective on FirstCash from $242.00 to $235.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Finally, Weiss Ratings lowered FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Five 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, FirstCash currently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.