Wellington Management Group LLP Trims Stake in FirstCash Holdings, Inc. $FCFS

Wellington Management Group LLP trimmed its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,730 shares of the company’s stock after selling 8,124 shares during the quarter. Wellington Management Group LLP owned 0.43% of FirstCash worth $40,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new stake in FirstCash in the first quarter worth about $26,000. Geneos Wealth Management Inc. bought a new stake in shares of FirstCash in the 1st quarter valued at about $29,000. CIBC Private Wealth Group LLC lifted its position 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 worth $31,000 after purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of FirstCash in the 2nd quarter worth approximately $34,000. Finally, Assetmark Inc. boosted its stake in shares of 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 in the last quarter. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

FirstCash Trading Up 0.8%

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

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.39 by $0.11. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 earnings per share. On average, analysts forecast that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. FirstCash’s dividend payout ratio is currently 19.18%.

Insider Transactions at FirstCash

In other news, CFO R. Orr sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the transaction, the chief financial officer directly owned 34,734 shares in the company, valued at $7,502,544. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard Hambleton sold 2,000 shares of FirstCash stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the sale, the insider directly owned 30,406 shares of the company’s stock, valued at $6,475,869.88. This trade represents a 6.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,098 shares of company stock valued at $3,051,281 over the last three months. Company insiders own 2.86% of the company’s stock.

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.