Westfield Capital Management Co. LP Has $85.70 Million Holdings in FirstCash Holdings, Inc. $FCFS

Westfield Capital Management Co. LP boosted its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 27.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 537,734 shares of the company’s stock after purchasing an additional 115,279 shares during the quarter. Westfield Capital Management Co. LP’s holdings in FirstCash were worth $85,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FCFS. AQR Capital Management LLC raised its stake in FirstCash by 67.6% in the third quarter. AQR Capital Management LLC now owns 623,059 shares of the company’s stock valued at $97,503,000 after purchasing an additional 251,305 shares in the last quarter. Victory Capital Management Inc. raised its stake in FirstCash by 76.3% in the third quarter. Victory Capital Management Inc. now owns 534,571 shares of the company’s stock valued at $84,687,000 after purchasing an additional 231,379 shares in the last quarter. Alliancebernstein L.P. raised its stake in FirstCash by 280.5% in the third quarter. Alliancebernstein L.P. now owns 305,856 shares of the company’s stock valued at $48,454,000 after purchasing an additional 225,466 shares in the last quarter. Capital Research Global Investors raised its stake in FirstCash by 78.3% in the third quarter. Capital Research Global Investors now owns 402,112 shares of the company’s stock valued at $63,703,000 after purchasing an additional 176,549 shares in the last quarter. Finally, Invesco Ltd. raised its stake in FirstCash by 102.6% in the third quarter. Invesco Ltd. now owns 294,971 shares of the company’s stock valued at $46,729,000 after purchasing an additional 149,407 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insiders Place Their Bets

In related news, CFO R Douglas Orr sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $227.29, for a total value of $454,580.00. Following the sale, the chief financial officer directly owned 35,734 shares in the company, valued at $8,121,980.86. This represents a 5.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula K. Garrett sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $217.40, for a total value of $326,100.00. Following the completion of the sale, the director owned 6,564 shares in the company, valued at $1,427,013.60. The trade was a 18.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,665 shares of company stock valued at $4,703,656 over the last three months. Insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

FCFS has been the subject of a number of analyst reports. Weiss Ratings downgraded FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, April 27th. Canaccord Genuity Group boosted their price target on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Zacks Research raised FirstCash from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. TD Cowen boosted their price target on FirstCash from $205.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $198.00.

FirstCash Stock Performance

NASDAQ:FCFS opened at $222.44 on Friday. The stock has a market cap of $9.75 billion, a P/E ratio of 27.87 and a beta of 0.52. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average is $212.84 and its 200-day moving average is $186.42. FirstCash Holdings, Inc. has a 1-year low of $119.21 and a 1-year high of $235.97.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.39. FirstCash had a return on equity of 18.68% and a net margin of 9.15%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.3 earnings per share for the current year.

FirstCash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.42 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.68 annualized dividend and a yield of 0.8%. FirstCash’s dividend payout ratio is presently 21.05%.

FirstCash Company Profile

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.