Retirement Systems of Alabama bought a new position in FirstCash Inc (NYSE:FCFS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,849 shares of the credit services provider’s stock, valued at approximately $5,120,000. Retirement Systems of Alabama owned 0.13% of FirstCash at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FCFS. BlackRock Inc. lifted its position in FirstCash by 8.4% in the second quarter. BlackRock Inc. now owns 6,912,083 shares of the credit services provider’s stock worth $691,346,000 after purchasing an additional 538,136 shares during the period. Nuveen Asset Management LLC bought a new position in shares of FirstCash in the second quarter valued at $27,971,000. Westfield Capital Management Co. LP bought a new position in shares of FirstCash in the second quarter valued at $17,939,000. Morgan Stanley increased its holdings in shares of FirstCash by 85.0% in the second quarter. Morgan Stanley now owns 201,850 shares of the credit services provider’s stock valued at $20,189,000 after buying an additional 92,729 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its holdings in shares of FirstCash by 13.8% in the second quarter. Stephens Investment Management Group LLC now owns 711,120 shares of the credit services provider’s stock valued at $71,126,000 after buying an additional 86,312 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.
In other news, Director James H. Graves sold 3,597 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $99.33, for a total value of $357,290.01. Following the transaction, the director now directly owns 21,272 shares of the company’s stock, valued at $2,112,947.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.83% of the stock is owned by insiders.
Shares of NYSE:FCFS opened at $81.58 on Friday. The company’s fifty day moving average is $89.59 and its two-hundred day moving average is $96.38. FirstCash Inc has a 12-month low of $66.28 and a 12-month high of $106.80.
FirstCash (NYSE:FCFS) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.84 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.84. The firm had revenue of $452.50 million for the quarter, compared to analyst estimates of $452.76 million. During the same period last year, the firm earned $0.81 earnings per share. FirstCash’s revenue for the quarter was up 5.2% compared to the same quarter last year.
The company also recently announced a dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, November 14th.
Several research analysts have issued reports on the company. Zacks Investment Research cut FirstCash from a “hold” rating to a “sell” rating in a report on Wednesday. JMP Securities cut FirstCash from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Barclays dropped their price target on FirstCash from $110.00 to $100.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Wedbush dropped their price target on FirstCash from $99.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. FirstCash currently has an average rating of “Hold” and an average target price of $105.00.
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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