Short Interest in FirstCash Holdings, Inc. (NASDAQ:FCFS) Drops By 12.5%

FirstCash Holdings, Inc. (NASDAQ:FCFS) was the recipient of a significant drop in short interest in January. As of January 30th, there was short interest totaling 519,981 shares, a drop of 12.5% from the January 15th total of 594,289 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 235,136 shares, the short-interest ratio is currently 2.2 days. Based on an average daily volume of 235,136 shares, the short-interest ratio is currently 2.2 days. Approximately 1.4% of the company’s stock are short sold.

Insider Buying and Selling at FirstCash

In other news, insider Howard F. Hambleton sold 4,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.74, for a total value of $654,960.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Randel G. Owen sold 1,500 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $152.20, for a total value of $228,300.00. Following the sale, the director owned 7,651 shares of the company’s stock, valued at $1,164,482.20. This trade represents a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 35,000 shares of company stock valued at $5,680,305. 14.77% of the stock is owned by corporate insiders.

Institutional Trading of FirstCash

Several large investors have recently made changes to their positions in FCFS. Caitong International Asset Management Co. Ltd acquired a new position in FirstCash during the second quarter valued at $25,000. Root Financial Partners LLC purchased a new position in shares of FirstCash during the 3rd quarter valued at about $25,000. Rothschild Investment LLC lifted its holdings in shares of FirstCash by 127.8% in the 3rd quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock valued at $29,000 after buying an additional 101 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of FirstCash by 490.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after buying an additional 162 shares during the last quarter. Finally, Community Bank N.A. acquired a new stake in FirstCash during the third quarter worth about $32,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a report on Monday, December 29th. Canaccord Genuity Group set a $217.00 price objective on shares of FirstCash in a research report on Friday, February 6th. Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 2nd. Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, TD Cowen reaffirmed a “buy” rating on shares of FirstCash in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, FirstCash currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.40.

FirstCash Trading Down 0.1%

NASDAQ:FCFS opened at $181.89 on Tuesday. The company has a market capitalization of $8.00 billion, a P/E ratio of 24.51 and a beta of 0.49. The company has a current ratio of 4.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.97. FirstCash has a 12 month low of $109.51 and a 12 month high of $188.75. The firm has a fifty day simple moving average of $167.70 and a 200-day simple moving average of $156.76.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.10. FirstCash had a return on equity of 17.99% and a net margin of 9.02%.The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the firm earned $2.12 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. On average, equities research analysts anticipate that FirstCash will post 7.7 earnings per share for the current year.

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

FirstCash Announces Dividend

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

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.