Erste Asset Management GmbH Raises Stock Position in FirstCash Holdings, Inc. $FCFS

Erste Asset Management GmbH boosted its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 13.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,000 shares of the company’s stock after purchasing an additional 25,000 shares during the period. Erste Asset Management GmbH owned about 0.49% of FirstCash worth $33,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of FirstCash in the 3rd quarter valued at about $25,000. Rothschild Investment LLC lifted its holdings in FirstCash by 127.8% in the third quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock valued at $29,000 after acquiring an additional 101 shares during the period. Smartleaf Asset Management LLC lifted its holdings in FirstCash by 70.5% in the third quarter. Smartleaf Asset Management LLC now owns 220 shares of the company’s stock valued at $34,000 after acquiring an additional 91 shares during the period. Jones Financial Companies Lllp boosted its position in FirstCash by 262.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 377 shares of the company’s stock worth $58,000 after purchasing an additional 273 shares in the last quarter. Finally, Covestor Ltd grew its stake in shares of FirstCash by 130.7% during the 3rd quarter. Covestor Ltd now owns 413 shares of the company’s stock worth $65,000 after purchasing an additional 234 shares during the period. 80.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FirstCash

In other FirstCash news, insider Howard F. Hambleton sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $185.12, for a total value of $740,480.00. Following the transaction, the insider directly owned 35,406 shares in the company, valued at $6,554,358.72. The trade was a 10.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $182.53, for a total transaction of $1,825,300.00. Following the sale, the chief operating officer owned 150,846 shares of the company’s stock, valued at $27,533,920.38. This represents a 6.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,500 shares of company stock valued at $5,438,945. 2.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FCFS shares. TD Cowen reiterated a “buy” rating on shares of FirstCash in a research note on Friday, October 31st. Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Canaccord Genuity Group set a $217.00 target price on FirstCash in a research report on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of FirstCash in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

FirstCash Stock Up 1.7%

FCFS opened at $189.27 on Friday. The company has a market cap of $8.33 billion, a PE ratio of 25.51 and a beta of 0.49. FirstCash Holdings, Inc. has a twelve month low of $109.51 and a twelve month high of $189.90. The company has a 50-day moving average price of $171.41 and a 200 day moving average price of $159.25. 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 released its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.10. FirstCash had a net margin of 9.02% and a return on equity of 17.99%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current fiscal year.

FirstCash announced that its board has approved a share buyback plan 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 plans are typically a sign that the company’s leadership believes its shares are undervalued.

FirstCash Dividend Announcement

The company 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 dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. FirstCash’s payout ratio is presently 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.