RFG Advisory LLC Decreases Stake in FirstCash Holdings, Inc. $FCFS

RFG Advisory LLC lessened its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 20.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,047 shares of the company’s stock after selling 4,187 shares during the quarter. RFG Advisory LLC’s holdings in FirstCash were worth $3,471,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of FCFS. California State Teachers Retirement System lifted its position in FirstCash by 21,984.3% during the second quarter. California State Teachers Retirement System now owns 9,970,621 shares of the company’s stock valued at $2,156,845,000 after buying an additional 9,925,473 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of FirstCash in the second quarter worth $1,088,429,000. Price T Rowe Associates Inc. MD increased its position in shares of FirstCash by 36.4% in the fourth 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 in the last quarter. Bank of America Corp DE purchased a new position in shares of FirstCash in the 2nd quarter valued at $248,059,000. Finally, Geode Capital Management LLC raised its stake in shares of FirstCash by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock valued at $166,367,000 after acquiring an additional 31,550 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in 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. 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 objective on the stock in a research report on Monday, August 10th. Wall Street Zen cut FirstCash from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, TD Cowen upped their target price on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Four equities 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.00.

Insider Activity

In other FirstCash news, COO Thomas Stuart sold 5,348 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $214.63, for a total value of $1,147,841.24. Following the completion of the transaction, the chief operating officer directly owned 135,498 shares of the company’s stock, valued at $29,081,935.74. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the sale, the chief financial officer owned 34,734 shares of the company’s stock, valued at $7,502,544. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 14,098 shares of company stock worth $3,051,281. 2.86% of the stock is owned by corporate insiders.

FirstCash Trading Up 0.9%

FCFS opened at $227.37 on Thursday. The firm has a market capitalization of $9.86 billion, a P/E ratio of 25.96 and a beta of 0.53. The firm’s 50 day moving average is $214.76 and its 200-day moving average is $211.11. FirstCash Holdings, Inc. has a 52-week low of $144.56 and a 52-week high of $238.93. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last posted its 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 business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 earnings per share. Analysts expect that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.

FirstCash Dividend Announcement

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

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.