AGF Management Ltd. Buys 413 Shares of FirstCash Holdings, Inc. $FCFS

AGF Management Ltd. grew its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,968 shares of the company’s stock after acquiring an additional 413 shares during the quarter. AGF Management Ltd. owned 0.05% of FirstCash worth $3,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its holdings in FirstCash by 18.2% during the first quarter. Teacher Retirement System of Texas now owns 11,522 shares of the company’s stock worth $1,386,000 after purchasing an additional 1,771 shares during the last quarter. State of Michigan Retirement System lifted its position in shares of FirstCash by 1.1% during the 1st quarter. State of Michigan Retirement System now owns 9,315 shares of the company’s stock worth $1,121,000 after buying an additional 100 shares in the last quarter. Xponance Inc. boosted its stake in shares of FirstCash by 1.6% in the 1st quarter. Xponance Inc. now owns 5,552 shares of the company’s stock worth $668,000 after buying an additional 87 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of FirstCash by 2.5% in the 1st quarter. New York State Common Retirement Fund now owns 189,657 shares of the company’s stock worth $22,820,000 after buying an additional 4,552 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in shares of FirstCash by 14.5% in the first quarter. Stephens Investment Management Group LLC now owns 888,834 shares of the company’s stock valued at $106,945,000 after acquiring an additional 112,349 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

FirstCash Trading Down 0.7%

Shares of FCFS stock opened at $160.73 on Monday. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 24.69 and a beta of 0.66. The company’s fifty day simple moving average is $152.73 and its two-hundred day simple moving average is $139.72. FirstCash Holdings, Inc. has a 1 year low of $100.24 and a 1 year high of $166.08. 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 (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.35. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The company had revenue of $935.58 million during the quarter, compared to analysts’ expectations of $845.28 million. During the same period in the previous year, the business earned $1.67 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash declared that its board has authorized a stock repurchase program on Thursday, October 30th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

FirstCash Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, November 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. FirstCash’s dividend payout ratio is currently 24.24%.

Insider Transactions at FirstCash

In related news, CEO Rick L. Wessel sold 30,976 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the sale, the chief executive officer owned 901,982 shares of the company’s stock, valued at approximately $125,673,152.06. This represents a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Douglas Orr sold 2,852 shares of the firm’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $159.72, for a total transaction of $455,521.44. Following the completion of the transaction, the chief financial officer directly owned 39,734 shares of the company’s stock, valued at approximately $6,346,314.48. The trade was a 6.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 113,000 shares of company stock worth $15,883,363. Insiders own 2.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCFS. Loop Capital cut FirstCash from a “buy” rating to a “hold” rating and set a $145.00 price objective on the stock. in a research report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of FirstCash from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Cowen restated a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of FirstCash from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, FirstCash presently has a consensus rating of “Buy” and an average price target of $167.00.

About FirstCash

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.