Los Angeles Capital Management LLC Buys 3,062 Shares of FirstCash Holdings, Inc. $FCFS

Los Angeles Capital Management LLC raised its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 32.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,561 shares of the company’s stock after buying an additional 3,062 shares during the period. Los Angeles Capital Management LLC’s holdings in FirstCash were worth $1,697,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCFS. Caitong International Asset Management Co. Ltd acquired a new position in shares of FirstCash during the second quarter worth $25,000. IFP Advisors Inc grew its position in FirstCash by 181.6% during the 2nd quarter. IFP Advisors Inc now owns 290 shares of the company’s stock worth $39,000 after acquiring an additional 187 shares during the last quarter. CX Institutional increased its holdings in FirstCash by 24.7% in the 2nd quarter. CX Institutional now owns 434 shares of the company’s stock worth $59,000 after purchasing an additional 86 shares in the last quarter. Bayforest Capital Ltd increased its holdings in FirstCash by 169.9% in the 2nd quarter. Bayforest Capital Ltd now owns 448 shares of the company’s stock worth $61,000 after purchasing an additional 282 shares in the last quarter. Finally, CWM LLC raised its position in FirstCash by 92.9% in the first quarter. CWM LLC now owns 517 shares of the company’s stock valued at $62,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FCFS shares. Jefferies Financial Group upgraded FirstCash to a “strong-buy” rating in a report on Monday, August 18th. TD Cowen lifted their target price on shares of FirstCash from $181.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Canaccord Genuity Group upped their price target on shares of FirstCash from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Wall Street Zen raised shares of FirstCash from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, FirstCash has a consensus rating of “Buy” and an average price target of $167.00.

FirstCash Stock Performance

Shares of FCFS stock opened at $162.52 on Wednesday. The stock has a market capitalization of $7.17 billion, a PE ratio of 24.96 and a beta of 0.66. The business’s 50 day simple moving average is $153.27 and its 200 day simple moving average is $140.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. FirstCash Holdings, Inc. has a one year low of $100.24 and a one year high of $166.08.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.35. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The firm had revenue of $935.58 million during the quarter, compared to analyst estimates of $845.28 million. During the same quarter last year, the business earned $1.67 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.0%. FirstCash’s payout ratio is presently 24.24%.

FirstCash announced that its Board of Directors has authorized a share buyback program on Thursday, October 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO R Douglas Orr sold 2,852 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $159.72, for a total value of $455,521.44. Following the transaction, the chief financial officer directly owned 39,734 shares of the company’s stock, valued at $6,346,314.48. The trade was a 6.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rick L. Wessel sold 30,976 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $139.33, for a total value of $4,315,886.08. Following the sale, the chief executive officer owned 901,982 shares in the company, valued at approximately $125,673,152.06. The trade was a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 113,000 shares of company stock worth $15,883,363 in the last ninety days. Insiders own 2.93% of the company’s stock.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.