Boston Partners Buys 156,853 Shares of FirstCash Inc (NASDAQ:FCFS)
Boston Partners increased its stake in shares of FirstCash Inc (NASDAQ:FCFS) by 18.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,014,894 shares of the credit services provider’s stock after buying an additional 156,853 shares during the period. Boston Partners’ holdings in FirstCash were worth $59,168,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Tyers Asset Management LLC increased its stake in shares of FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after buying an additional 308 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management bought a new stake in shares of FirstCash during the first quarter valued at about $201,000. Ameritas Investment Partners Inc. bought a new stake in shares of FirstCash during the first quarter valued at about $202,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of FirstCash during the first quarter valued at about $202,000.
FirstCash Inc (FCFS) opened at 58.15 on Friday. The company’s 50-day moving average price is $58.25 and its 200 day moving average price is $51.13. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75. The stock has a market capitalization of $2.77 billion, a P/E ratio of 31.48 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05. The firm had revenue of $416.60 million during the quarter, compared to analysts’ expectations of $410.65 million. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The business’s revenue for the quarter was up 128.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. On average, equities research analysts anticipate that FirstCash Inc will post $2.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a yield of 1.31%. FirstCash’s payout ratio is 25.38%.
FirstCash announced that its board has initiated a share repurchase plan on Monday, May 15th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
Several brokerages have recently issued reports on FCFS. Wedbush upped their price objective on FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 24th. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Thursday, April 27th. CL King downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. TheStreet upgraded FirstCash from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Finally, Stephens upped their price objective on FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. FirstCash presently has an average rating of “Buy” and an average price target of $57.86.
In related news, CFO R Douglas Orr sold 7,500 shares of FirstCash stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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