Bayforest Capital Ltd Boosts Stake in FirstCash Holdings, Inc. $FCFS

Bayforest Capital Ltd raised its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 169.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Bayforest Capital Ltd’s holdings in FirstCash were worth $61,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of FCFS. CX Institutional increased its position in FirstCash by 24.7% during the 2nd quarter. CX Institutional now owns 434 shares of the company’s stock worth $59,000 after purchasing an additional 86 shares in the last quarter. Xponance Inc. increased its position in shares of FirstCash by 1.6% in the first quarter. Xponance Inc. now owns 5,552 shares of the company’s stock worth $668,000 after acquiring an additional 87 shares in the last quarter. Sendero Wealth Management LLC raised its stake in shares of FirstCash by 1.2% in the 2nd quarter. Sendero Wealth Management LLC now owns 7,580 shares of the company’s stock valued at $1,024,000 after acquiring an additional 88 shares during the period. MBM Wealth Consultants LLC boosted its position in FirstCash by 1.6% during the 1st quarter. MBM Wealth Consultants LLC now owns 5,757 shares of the company’s stock worth $693,000 after purchasing an additional 90 shares during the period. Finally, State of Michigan Retirement System increased its holdings in FirstCash by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,315 shares of the company’s stock valued at $1,121,000 after purchasing an additional 100 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

FirstCash Trading Down 0.7%

NASDAQ FCFS opened at $157.44 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.12 and a current ratio of 4.21. FirstCash Holdings, Inc. has a one year low of $100.24 and a one year high of $163.01. The company has a 50-day simple moving average of $148.38 and a 200-day simple moving average of $135.68. The firm has a market capitalization of $6.99 billion, a PE ratio of 24.18 and a beta of 0.69.

FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.13. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The firm had revenue of $830.62 million for the quarter, compared to analysts’ expectations of $820.42 million. During the same quarter last year, the company posted $1.37 earnings per share. FirstCash’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 1.1%. This is an increase from FirstCash’s previous quarterly dividend of $0.38. FirstCash’s payout ratio is presently 25.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FCFS shares. Capital One Financial set a $160.00 price objective on FirstCash in a research note on Tuesday, August 5th. Loop Capital cut FirstCash from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a report on Friday, September 5th. Jefferies Financial Group upgraded shares of FirstCash to a “strong-buy” rating in a research note on Monday, August 18th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstCash in a research report on Wednesday, October 8th. Finally, Zacks Research raised shares of FirstCash from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, FirstCash currently has a consensus rating of “Buy” and a consensus price target of $154.40.

Insider Buying and Selling

In other FirstCash news, CFO R Douglas Orr sold 4,000 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $159.64, for a total value of $638,560.00. Following the sale, the chief financial officer directly owned 93,567 shares of the company’s stock, valued at $14,937,035.88. This trade represents a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James H. Graves sold 6,000 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $134.56, for a total transaction of $807,360.00. Following the transaction, the director directly owned 15,846 shares of the company’s stock, valued at approximately $2,132,237.76. This trade represents a 27.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,000 shares of company stock worth $16,690,723 in the last three months. 2.93% of the stock is owned by insiders.

FirstCash Company Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.