Granite Investment Partners LLC Sells 4,114 Shares of FirstCash Holdings, Inc. $FCFS

Granite Investment Partners LLC cut its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 5.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,704 shares of the company’s stock after selling 4,114 shares during the quarter. Granite Investment Partners LLC’s holdings in FirstCash were worth $12,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of FCFS. Harbor Investment Advisory LLC purchased a new position in FirstCash in the 1st quarter worth approximately $26,000. CIBC Private Wealth Group LLC grew its holdings in shares of FirstCash by 490.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after purchasing an additional 162 shares during the last quarter. Community Bank N.A. bought a new position in shares of FirstCash in the third quarter worth approximately $32,000. High Point Wealth Management LLC purchased a new position in shares of FirstCash in the fourth quarter worth $33,000. Finally, Root Financial Partners LLC increased its stake in shares of FirstCash by 29.6% in the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after buying an additional 56 shares during the period. 80.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on FCFS shares. Canaccord Genuity Group increased their price target on shares of FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings lowered shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Finally, TD Cowen raised their target price on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.25.

FirstCash Trading Down 3.4%

NASDAQ:FCFS opened at $215.64 on Thursday. The company has a 50-day moving average price of $222.76 and a 200-day moving average price of $197.12. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 27.02 and a beta of 0.53. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98. FirstCash Holdings, Inc. has a 12 month low of $119.21 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. FirstCash’s revenue was up 25.7% on a year-over-year basis. Equities analysts predict that FirstCash Holdings, Inc. will post 11.3 EPS for the current year.

FirstCash Dividend Announcement

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

Insider Buying and Selling

In other news, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the transaction, the senior vice president owned 20,400 shares in the company, valued at $4,594,692. This trade represents a 25.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paula K. Garrett sold 1,500 shares of FirstCash 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 sale, the director owned 6,564 shares in the company, valued at $1,427,013.60. This represents a 18.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,500 shares of company stock worth $6,243,104 over the last quarter. Company insiders own 2.86% of the company’s stock.

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.