Corient Private Wealth LP Takes $1.25 Million Position in FirstCash Holdings, Inc. $FCFS

Corient Private Wealth LP purchased a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,757 shares of the company’s stock, valued at approximately $1,245,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FCFS. BlackRock Inc. bought a new position in shares of FirstCash during the 2nd quarter valued at about $1,088,429,000. Bank of America Corp DE bought a new position in shares of FirstCash during the 2nd quarter valued at $248,059,000. Bank of New York Mellon Corp bought a new position in shares of FirstCash during the 2nd quarter valued at $69,779,000. JPMorgan Chase & Co. increased its holdings in shares of FirstCash by 133.8% in the fourth quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company’s stock worth $89,588,000 after buying an additional 321,663 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock worth $186,361,000 after acquiring an additional 312,132 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

FirstCash Trading Up 0.8%

FCFS opened at $225.62 on Friday. The stock has a fifty day moving average price of $214.19 and a 200-day moving average price of $210.01. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 25.76 and a beta of 0.53. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. FirstCash Holdings, Inc. has a 12 month low of $144.56 and a 12 month high of $238.93.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.34 EPS. As a group, equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash’s dividend payout ratio (DPR) is currently 19.18%.

Insider Buying and Selling at FirstCash

In related news, Director James Graves sold 3,750 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $221.20, for a total transaction of $829,500.00. Following the completion of the transaction, the director owned 11,929 shares of the company’s stock, valued at $2,638,694.80. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO R. Orr sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the sale, the chief financial officer directly owned 34,734 shares in the company, valued at approximately $7,502,544. The trade was a 5.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,098 shares of company stock worth $3,051,281 over the last ninety days. 2.86% of the stock is owned by insiders.

Analysts Set New Price Targets

FCFS has been the topic of a number of research reports. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. TD Cowen increased their price target on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings lowered shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a report on Monday, August 10th. Finally, Wall Street Zen downgraded shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, FirstCash currently has a consensus rating of “Moderate Buy” and an average price target of $249.00.

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.