FirstCash (NASDAQ:FCFS) CEO Sells $9,559,133.76 in Stock

FirstCash Holdings, Inc. (NASDAQ:FCFS) CEO Rick Wessel sold 69,024 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $138.49, for a total transaction of $9,559,133.76. Following the sale, the chief executive officer owned 932,958 shares of the company’s stock, valued at approximately $129,205,353.42. This represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

FirstCash Stock Performance

FirstCash stock opened at $138.70 on Friday. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average of $132.98 and a 200-day moving average of $125.78. The firm has a market cap of $6.15 billion, a P/E ratio of 21.31 and a beta of 0.68. FirstCash Holdings, Inc. has a 1-year low of $100.24 and a 1-year high of $141.56.

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

FirstCash Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.42 per share. This is an increase from FirstCash’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 15th. FirstCash’s dividend payout ratio (DPR) is currently 25.81%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCFS shares. Capital One Financial set a $160.00 target price on shares of FirstCash in a report on Tuesday, August 5th. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Cowen reissued a “buy” rating on shares of FirstCash in a research note on Monday. Finally, Jefferies Financial Group raised shares of FirstCash to a “strong-buy” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, FirstCash currently has a consensus rating of “Buy” and a consensus target price of $142.33.

Institutional Investors Weigh In On FirstCash

Institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of FirstCash during the second quarter valued at approximately $25,000. Farther Finance Advisors LLC increased its position in shares of FirstCash by 808.0% during the first quarter. Farther Finance Advisors LLC now owns 227 shares of the company’s stock valued at $27,000 after acquiring an additional 202 shares in the last quarter. IFP Advisors Inc increased its position in shares of 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 acquiring an additional 187 shares in the last quarter. CX Institutional bought a new stake in shares of FirstCash during the first quarter valued at approximately $42,000. Finally, Bayforest Capital Ltd increased its position in shares of FirstCash by 169.9% during the second quarter. Bayforest Capital Ltd now owns 448 shares of the company’s stock valued at $61,000 after acquiring an additional 282 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

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.