FirstCash (NASDAQ:FCFS) Trading Up 9.3% – Here’s Why

FirstCash Holdings, Inc. (NASDAQ:FCFS)’s stock price rose 9.3% on Friday . The company traded as high as $225.06 and last traded at $225.06. Approximately 309,114 shares changed hands during trading, a decline of 17% from the average daily volume of 371,175 shares. The stock had previously closed at $205.91.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FCFS shares. Weiss Ratings cut shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price on the stock in a research report on Monday, August 10th. Zacks Research cut FirstCash from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. TD Cowen boosted their price target on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $249.00.

FirstCash Trading Up 9.4%

The firm’s 50 day simple moving average is $214.07 and its 200-day simple moving average is $206.91. The company has a market capitalization of $9.77 billion, a PE ratio of 25.72 and a beta of 0.53. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.39 by $0.11. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.34 EPS. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 annualized dividend and a yield of 0.7%. FirstCash’s dividend payout ratio (DPR) is 19.18%.

Insider Buying and Selling

In other news, insider Howard F. Hambleton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the sale, the insider owned 30,406 shares of the company’s stock, valued at $6,475,869.88. This represents a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the sale, the senior vice president owned 20,400 shares of the company’s stock, valued at approximately $4,594,692. This trade represents a 25.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 20,348 shares of company stock worth $4,492,755. Company insiders own 2.86% of the company’s stock.

Institutional Trading of FirstCash

Several large investors have recently bought and sold shares of FCFS. AlphaGrep UK Ltd purchased a new stake in shares of FirstCash during the second quarter valued at approximately $241,000. Raiffeisen Bank International AG purchased a new position in shares of FirstCash in the second quarter valued at $108,000. Concurrent Investment Advisors LLC boosted its stake in shares of FirstCash by 22.0% in the second quarter. Concurrent Investment Advisors LLC now owns 2,680 shares of the company’s stock valued at $580,000 after purchasing an additional 483 shares during the period. Nykredit A S acquired a new stake in FirstCash during the 2nd quarter valued at $397,000. Finally, Aubrey Capital Management Ltd increased its stake in FirstCash by 12.5% during the 2nd quarter. Aubrey Capital Management Ltd now owns 14,400 shares of the company’s stock worth $3,115,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

About FirstCash

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.