FirstCash Holdings, Inc. $FCFS Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,117 shares of the company’s stock after selling 5,144 shares during the quarter. Envestnet Asset Management Inc. owned about 0.41% of FirstCash worth $28,534,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC purchased a new stake in shares of FirstCash in the second quarter worth about $336,000. Drive Wealth Management LLC purchased a new stake in FirstCash during the second quarter worth $230,000. Squarepoint Ops LLC grew its position in FirstCash by 685.2% during the second quarter. Squarepoint Ops LLC now owns 37,896 shares of the company’s stock valued at $5,121,000 after buying an additional 33,070 shares during the period. Bank of New York Mellon Corp increased its holdings in FirstCash by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 388,635 shares of the company’s stock valued at $52,520,000 after buying an additional 6,633 shares in the last quarter. Finally, Coastal Bridge Advisors LLC acquired a new position in shares of FirstCash in the third quarter worth about $1,361,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FirstCash

In other FirstCash news, CEO Rick L. Wessel sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $156.39, for a total value of $3,127,800.00. Following the completion of the sale, the chief executive officer directly owned 866,982 shares of the company’s stock, valued at $135,587,314.98. This trade represents a 2.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard F. Hambleton sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $177.65, for a total transaction of $355,300.00. Following the transaction, the insider directly owned 39,406 shares in the company, valued at approximately $7,000,475.90. The trade was a 4.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 50,500 shares of company stock valued at $8,150,640. 2.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

FCFS has been the subject of several recent analyst reports. TD Cowen restated a “buy” rating on shares of FirstCash in a research note on Friday, October 31st. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Canaccord Genuity Group set a $217.00 target price on FirstCash in a research note on Friday, February 6th. Wall Street Zen upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of FirstCash in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.40.

FirstCash Trading Down 0.2%

Shares of FCFS opened at $182.00 on Friday. FirstCash Holdings, Inc. has a 52-week low of $109.51 and a 52-week high of $188.75. The stock has a market cap of $8.01 billion, a PE ratio of 24.53 and a beta of 0.49. The firm’s fifty day moving average is $166.63 and its two-hundred day moving average is $155.57. The company has a quick ratio of 3.36, a current ratio of 4.55 and a debt-to-equity ratio of 0.97.

FirstCash (NASDAQ:FCFS) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. Research analysts forecast that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal year.

FirstCash announced that its Board of Directors has initiated a share buyback program on Thursday, October 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 2.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Wednesday, February 18th will be given a $0.42 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.9%. FirstCash’s dividend payout ratio is 22.64%.

FirstCash 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.