Exchange Traded Concepts LLC Purchases New Position in FirstCash Holdings, Inc. $FCFS

Exchange Traded Concepts LLC bought a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,487 shares of the company’s stock, valued at approximately $869,000.

Several other institutional investors also recently modified their holdings of FCFS. Geode Capital Management LLC grew its position in FirstCash by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 980,738 shares of the company’s stock worth $132,552,000 after acquiring an additional 11,534 shares during the last quarter. Sei Investments Co. boosted its stake in shares of FirstCash by 10.1% during the second quarter. Sei Investments Co. now owns 713,906 shares of the company’s stock valued at $96,477,000 after purchasing an additional 65,308 shares in the last quarter. Boston Partners grew its holdings in shares of FirstCash by 1.3% during the second quarter. Boston Partners now owns 658,961 shares of the company’s stock worth $88,871,000 after purchasing an additional 8,503 shares during the last quarter. Hood River Capital Management LLC increased its stake in shares of FirstCash by 42.6% in the second quarter. Hood River Capital Management LLC now owns 611,045 shares of the company’s stock valued at $82,577,000 after buying an additional 182,451 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in FirstCash by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock valued at $46,866,000 after buying an additional 34,364 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

FirstCash Trading Down 0.9%

NASDAQ FCFS opened at $160.96 on Monday. The company has a quick ratio of 3.72, a current ratio of 4.99 and a debt-to-equity ratio of 1.01. FirstCash Holdings, Inc. has a 52 week low of $101.75 and a 52 week high of $166.08. The business has a 50 day moving average price of $158.26 and a 200-day moving average price of $146.96. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 23.23 and a beta of 0.53.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 30th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.91 by $0.35. The company had revenue of $904.27 million during the quarter, compared to the consensus estimate of $845.28 million. FirstCash had a net margin of 8.88% and a return on equity of 17.44%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 earnings per share. As a group, equities analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal year.

FirstCash declared that its board has authorized a share buyback plan on Thursday, October 30th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

FirstCash Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.0%. FirstCash’s payout ratio is currently 24.24%.

Insiders Place Their Bets

In related news, insider Howard F. Hambleton sold 4,000 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $163.74, for a total value of $654,960.00. Following the transaction, the insider directly owned 26,581 shares of the company’s stock, valued at approximately $4,352,372.94. The trade was a 13.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO R Douglas Orr sold 4,000 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $159.64, for a total transaction of $638,560.00. Following the transaction, the chief financial officer owned 93,567 shares of the company’s stock, valued at approximately $14,937,035.88. The trade was a 4.10% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 48,500 shares of company stock valued at $7,678,508. 14.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCFS. Loop Capital cut shares of FirstCash from a “buy” rating to a “hold” rating and set a $145.00 price target for the company. in a research report on Friday, September 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a report on Monday, December 22nd. TD Cowen increased their price objective on FirstCash from $181.00 to $188.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wall Street Zen raised FirstCash from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $205.00 price target on shares of FirstCash in a research report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstCash presently has a consensus rating of “Buy” and an average target price of $167.00.

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.