Heartland Advisors Inc. Acquires 28,844 Shares of FirstCash Inc (FCFS)
Heartland Advisors Inc. raised its position in shares of FirstCash Inc (NASDAQ:FCFS) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 274,659 shares of the credit services provider’s stock after buying an additional 28,844 shares during the period. FirstCash comprises approximately 1.0% of Heartland Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Heartland Advisors Inc. owned approximately 0.57% of FirstCash worth $16,013,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FCFS. Tyers Asset Management LLC raised its position in FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock worth $117,000 after buying an additional 308 shares in the last quarter. Flinton Capital Management LLC raised its position in FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock worth $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management acquired a new position in FirstCash during the first quarter worth $201,000. Ameritas Investment Partners Inc. acquired a new position in FirstCash during the first quarter worth $202,000. Finally, BlueCrest Capital Management Ltd acquired a new position in FirstCash during the first quarter worth $202,000.
Shares of FirstCash Inc (NASDAQ:FCFS) traded up 0.95% on Thursday, reaching $58.55. 7,066 shares of the company’s stock traded hands. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 31.70 and a beta of 0.90. The firm’s 50-day moving average is $58.62 and its 200-day moving average is $52.32. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75.
FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $416.60 million during the quarter, compared to analyst estimates of $410.65 million. FirstCash had a net margin of 3.66% and a return on equity of 4.10%. The firm’s revenue was up 128.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. Analysts anticipate that FirstCash Inc will post $2.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Friday, August 11th. FirstCash’s payout ratio is presently 25.38%.
FirstCash announced that its Board of Directors has approved a stock repurchase program on Monday, May 15th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the credit services provider to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research lowered shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Wedbush lifted their price objective on shares of FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 24th. CL King lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Stephens lifted their price objective on shares of FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. FirstCash currently has a consensus rating of “Hold” and a consensus price target of $59.29.
In related news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $55.00, for a total value of $412,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
FirstCash Company Profile
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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