Future Fund LLC Raises Stock Position in FirstCash Holdings, Inc. $FCFS

Future Fund LLC lifted its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 27.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,889 shares of the company’s stock after buying an additional 4,024 shares during the period. FirstCash makes up about 1.2% of Future Fund LLC’s portfolio, making the stock its 23rd biggest holding. Future Fund LLC’s holdings in FirstCash were worth $3,551,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in FCFS. Harbor Investment Advisory LLC purchased a new position in FirstCash in the first quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new stake in FirstCash during the first quarter valued at approximately $29,000. Assetmark Inc. raised its position in FirstCash by 113.2% during the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after purchasing an additional 103 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after purchasing an additional 162 shares during the last quarter. Finally, High Point Wealth Management LLC bought a new stake in shares of FirstCash in the 4th quarter valued at approximately $33,000. Institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling at FirstCash

In other news, Director Paula K. Garrett sold 1,500 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $217.40, for a total value of $326,100.00. Following the transaction, the director directly owned 6,564 shares in the company, valued at approximately $1,427,013.60. This represents a 18.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $228.49, for a total transaction of $2,284,900.00. Following the completion of the transaction, the chief operating officer directly owned 140,846 shares in the company, valued at $32,181,902.54. This represents a 6.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 27,500 shares of company stock valued at $6,243,104. 2.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCFS. TD Cowen boosted their target price on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Canaccord Genuity Group boosted their price objective 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. Finally, Weiss Ratings downgraded shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.25.

FirstCash Stock Down 1.3%

Shares of NASDAQ:FCFS opened at $213.61 on Friday. The firm has a market capitalization of $9.36 billion, a PE ratio of 26.77 and a beta of 0.53. The business has a 50 day simple moving average of $221.93 and a two-hundred day simple moving average of $199.51. FirstCash Holdings, Inc. has a 1 year low of $119.21 and a 1 year high of $235.97. The company has a debt-to-equity ratio of 0.98, a current ratio of 4.77 and a quick ratio of 3.42.

FirstCash (NASDAQ:FCFS) last issued 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, equities analysts predict that FirstCash Holdings, Inc. will post 11.33 EPS for the current year.

FirstCash Dividend Announcement

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

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.