Bank of New York Mellon Corp Sells 2,889 Shares of FirstCash Holdings, Inc. $FCFS

Bank of New York Mellon Corp trimmed its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 0.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 326,312 shares of the company’s stock after selling 2,889 shares during the quarter. Bank of New York Mellon Corp owned 0.74% of FirstCash worth $61,347,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Villanova Investment Management Co LLC raised its stake in shares of FirstCash by 0.4% in the 4th quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company’s stock valued at $2,037,000 after purchasing an additional 54 shares during the period. Root Financial Partners LLC boosted its position in shares of FirstCash by 29.6% during the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after buying an additional 56 shares during the period. Ascent Group LLC boosted its position in shares of FirstCash by 6.0% during the fourth quarter. Ascent Group LLC now owns 1,423 shares of the company’s stock worth $227,000 after buying an additional 81 shares during the period. Pullen Investment Management LLC grew its holdings in shares of FirstCash by 0.4% during the fourth quarter. Pullen Investment Management LLC now owns 20,263 shares of the company’s stock worth $3,230,000 after buying an additional 87 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its position in FirstCash by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 8,260 shares of the company’s stock worth $1,393,000 after acquiring an additional 89 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Insider Activity

In related news, insider Howard F. Hambleton sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total value of $679,230.00. Following the completion of the sale, the insider directly owned 32,406 shares in the company, valued at approximately $7,337,042.46. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Paula K. Garrett sold 1,500 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $217.40, for a total value of $326,100.00. Following the transaction, the director owned 6,564 shares in the company, valued at approximately $1,427,013.60. This trade represents a 18.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,500 shares of company stock worth $6,243,104. Insiders own 2.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCFS. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Canaccord Genuity Group increased their target price on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, April 27th. Wall Street Zen cut FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, TD Cowen lifted their target price on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstCash presently has an average rating of “Moderate Buy” and an average price target of $199.25.

FirstCash Stock Down 1.5%

FCFS opened at $208.74 on Thursday. The stock’s fifty day simple moving average is $220.78 and its 200 day simple moving average is $200.84. FirstCash Holdings, Inc. has a 1-year low of $119.21 and a 1-year high of $235.97. The stock has a market cap of $9.15 billion, a PE ratio of 26.16 and a beta of 0.53. The company has a current ratio of 4.77, a quick ratio of 3.42 and a debt-to-equity ratio of 0.98.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business posted $2.07 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, research analysts expect that FirstCash Holdings, Inc. will post 11.33 earnings per share for the current year.

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.