Rice Hall James & Associates LLC Has $13.31 Million Position in FirstCash Inc (FCFS)
Rice Hall James & Associates LLC increased its stake in shares of FirstCash Inc (NASDAQ:FCFS) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,293 shares of the credit services provider’s stock after buying an additional 985 shares during the period. Rice Hall James & Associates LLC’s holdings in FirstCash were worth $13,309,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Tyers Asset Management LLC increased its stake 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 valued at $117,000 after buying an additional 308 shares in the last quarter. Flinton Capital Management LLC increased its stake 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 valued at $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management bought a new stake in FirstCash during the first quarter valued at approximately $201,000. Ameritas Investment Partners Inc. bought a new stake in FirstCash during the first quarter valued at approximately $202,000. Finally, BlueCrest Capital Management Ltd bought a new stake in FirstCash during the first quarter valued at approximately $202,000.
FirstCash Inc (NASDAQ FCFS) opened at 58.15 on Friday. The stock’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 results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.05. The company had revenue of $416.60 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Equities research analysts expect that FirstCash Inc will post $2.66 earnings per share for the current year.
FirstCash announced that its Board of Directors has approved a stock buyback program on Monday, May 15th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the credit services provider to buy up to 4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued 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 dividend yield of 1.31%. FirstCash’s dividend payout ratio (DPR) is presently 25.38%.
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FCFS has been the subject of a number of analyst reports. Wedbush increased their target price on FirstCash from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 24th. Zacks Investment Research raised FirstCash from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Thursday, April 27th. CL King downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. TheStreet raised FirstCash from a “c+” rating to a “b” rating in a research note on Monday, April 17th. Finally, Stephens increased their target price on FirstCash from $51.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. FirstCash has a consensus rating of “Buy” and an average price target of $57.86.
In other news, CFO R Douglas Orr sold 7,500 shares of FirstCash stock in a transaction that occurred 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 SEC, which is accessible through the SEC website.
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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