Boston Partners Acquires 2,014 Shares of FirstCash Holdings, Inc. $FCFS

Boston Partners raised its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 652,472 shares of the company’s stock after buying an additional 2,014 shares during the quarter. Boston Partners’ holdings in FirstCash were worth $87,994,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FCFS. Caitong International Asset Management Co. Ltd purchased a new position in shares of FirstCash during the second quarter worth about $25,000. IFP Advisors Inc lifted its position in FirstCash by 181.6% during the second quarter. IFP Advisors Inc now owns 290 shares of the company’s stock valued at $39,000 after purchasing an additional 187 shares during the last quarter. CX Institutional lifted its position in FirstCash by 24.7% during the second quarter. CX Institutional now owns 434 shares of the company’s stock valued at $59,000 after purchasing an additional 86 shares during the last quarter. Bayforest Capital Ltd grew its stake in FirstCash by 169.9% in the 2nd quarter. Bayforest Capital Ltd now owns 448 shares of the company’s stock worth $61,000 after buying an additional 282 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of FirstCash by 92.9% in the 1st quarter. CWM LLC now owns 517 shares of the company’s stock worth $62,000 after buying an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Rick L. Wessel sold 69,024 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $138.49, for a total value of $9,559,133.76. Following the completion of the transaction, the chief executive officer directly owned 932,958 shares in the company, valued at $129,205,353.42. This trade represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO R Douglas Orr sold 4,000 shares of FirstCash stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $159.64, for a total transaction of $638,560.00. Following the transaction, the chief financial officer directly owned 93,567 shares of the company’s stock, valued at approximately $14,937,035.88. This trade represents a 4.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 113,000 shares of company stock valued at $15,883,363. 2.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on FCFS. Weiss Ratings restated a “buy (b)” rating on shares of FirstCash in a research report on Wednesday, October 8th. Zacks Research upgraded FirstCash from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Loop Capital lowered FirstCash from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research note on Friday, September 5th. Jefferies Financial Group upgraded FirstCash to a “strong-buy” rating in a report on Monday, August 18th. Finally, Capital One Financial set a $160.00 price objective on FirstCash in a report on Tuesday, August 5th. Two equities research 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 stock. According to MarketBeat.com, FirstCash currently has an average rating of “Buy” and an average target price of $167.00.

FirstCash Price Performance

FCFS stock opened at $161.63 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. FirstCash Holdings, Inc. has a 1 year low of $100.24 and a 1 year high of $166.08. The firm has a 50-day moving average of $153.51 and a 200 day moving average of $140.30. The company has a market cap of $7.13 billion, a P/E ratio of 24.83 and a beta of 0.66.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 30th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.35. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The firm had revenue of $935.58 million for the quarter, compared to the consensus estimate of $845.28 million. During the same quarter in the prior year, the business earned $1.67 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash declared that its Board of Directors has authorized a share buyback plan on Thursday, October 30th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

FirstCash Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 1.0%. FirstCash’s dividend payout ratio is 24.24%.

About FirstCash

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.