Assenagon Asset Management S.A. trimmed its holdings in FirstCash Inc (NYSE:FCFS) by 40.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,800 shares of the credit services provider’s stock after selling 12,712 shares during the quarter. Assenagon Asset Management S.A.’s holdings in FirstCash were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of FCFS. Eagle Asset Management Inc. boosted its position in shares of FirstCash by 134.7% in the second quarter. Eagle Asset Management Inc. now owns 737,373 shares of the credit services provider’s stock valued at $66,252,000 after acquiring an additional 423,132 shares during the period. Renaissance Technologies LLC lifted its position in FirstCash by 39.5% in the second quarter. Renaissance Technologies LLC now owns 1,347,724 shares of the credit services provider’s stock worth $121,093,000 after purchasing an additional 381,500 shares during the period. Carillon Tower Advisers Inc. lifted its position in FirstCash by 384.6% in the second quarter. Carillon Tower Advisers Inc. now owns 470,910 shares of the credit services provider’s stock worth $42,311,000 after purchasing an additional 373,732 shares during the period. BlackRock Inc. lifted its position in FirstCash by 5.6% in the second quarter. BlackRock Inc. now owns 6,376,093 shares of the credit services provider’s stock worth $572,893,000 after purchasing an additional 337,895 shares during the period. Finally, Northern Trust Corp lifted its position in FirstCash by 47.4% in the second quarter. Northern Trust Corp now owns 876,793 shares of the credit services provider’s stock worth $78,779,000 after purchasing an additional 281,755 shares during the period. 95.30% of the stock is owned by institutional investors.
Several research analysts recently commented on FCFS shares. Zacks Investment Research cut FirstCash from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. ValuEngine cut FirstCash from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Wedbush raised FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Friday, October 26th. Finally, Barclays started coverage on FirstCash in a research report on Wednesday, September 26th. They issued an “overweight” rating and a $95.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $93.17.
In other FirstCash news, CFO R Douglas Orr sold 2,500 shares of FirstCash stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the transaction, the chief financial officer now directly owns 157,500 shares of the company’s stock, valued at $13,387,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by company insiders.
Shares of FCFS stock opened at $83.02 on Friday. FirstCash Inc has a one year low of $62.65 and a one year high of $95.40.
FirstCash (NYSE:FCFS) last issued its earnings results on Thursday, October 25th. The credit services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The firm had revenue of $429.88 million during the quarter, compared to the consensus estimate of $440.46 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a $0.25 dividend. This is a boost from FirstCash’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, November 14th.
FirstCash declared that its Board of Directors has initiated a share buyback plan on Thursday, July 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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