FirstCash Inc (FCFS) Holdings Decreased by Prudential Financial Inc.
Prudential Financial Inc. reduced its holdings in shares of FirstCash Inc (NYSE:FCFS) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,830 shares of the credit services provider’s stock after selling 1,100 shares during the quarter. Prudential Financial Inc. owned approximately 0.23% of FirstCash worth $8,268,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlueMountain Capital Management LLC boosted its stake in shares of FirstCash by 34.2% during the 2nd quarter. BlueMountain Capital Management LLC now owns 6,845 shares of the credit services provider’s stock worth $615,000 after acquiring an additional 1,745 shares during the period. Zions Bancorporation bought a new position in shares of FirstCash during the 2nd quarter worth approximately $327,000. BlackRock Inc. boosted its stake in shares of FirstCash by 5.6% during the 2nd quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock worth $572,893,000 after acquiring an additional 337,895 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of FirstCash during the 2nd quarter worth approximately $387,000. Finally, Federated Investors Inc. PA bought a new position in shares of FirstCash during the 2nd quarter worth approximately $1,689,000. Institutional investors own 95.30% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research upgraded FirstCash from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. ValuEngine downgraded FirstCash from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Wedbush downgraded FirstCash from an “outperform” rating to a “neutral” rating and set a $90.00 price target for the company. in a research note on Monday. Finally, Barclays started coverage on FirstCash in a research note on Wednesday, September 26th. They issued an “overweight” rating and a $95.00 price target for the company. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $93.17.
FirstCash (NYSE:FCFS) last released its quarterly earnings results on Thursday, October 25th. The credit services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $429.88 million during the quarter, compared to the consensus estimate of $440.46 million.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from FirstCash’s previous quarterly dividend of $0.22. The ex-dividend date was Wednesday, November 14th.
FirstCash announced that its board has authorized a share repurchase plan on Thursday, October 25th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other news, Director James H. Graves sold 7,000 shares of the company’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $89.11, for a total transaction of $623,770.00. Following the completion of the sale, the director now directly owns 23,597 shares in the company, valued at approximately $2,102,728.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO R Douglas Orr sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the sale, the chief financial officer now owns 157,500 shares of the company’s stock, valued at $13,387,500. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.
FirstCash Company Profile
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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