Bank of New York Mellon Corp Has $61.35 Million Stake in FirstCash Holdings, Inc. $FCFS

Bank of New York Mellon Corp lowered its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 0.9% in the first quarter, Holdings Channel reports. The fund owned 326,312 shares of the company’s stock after selling 2,889 shares during the quarter. Bank of New York Mellon Corp’s holdings in FirstCash were worth $61,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FCFS. JPMorgan Chase & Co. grew its holdings in shares of FirstCash by 133.8% during the 4th quarter. JPMorgan Chase & Co. now owns 562,104 shares of the company’s stock valued at $89,588,000 after purchasing an additional 321,663 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock valued at $186,361,000 after purchasing an additional 312,132 shares during the last quarter. AQR Capital Management LLC lifted its stake in FirstCash by 67.6% in the 3rd quarter. AQR Capital Management LLC now owns 623,059 shares of the company’s stock valued at $97,503,000 after purchasing an additional 251,305 shares during the last quarter. Alliancebernstein L.P. boosted its position in FirstCash by 280.5% in the third quarter. Alliancebernstein L.P. now owns 305,856 shares of the company’s stock valued at $48,454,000 after buying an additional 225,466 shares in the last quarter. Finally, Candriam S.C.A. acquired a new stake in FirstCash in the first quarter valued at approximately $28,371,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

FirstCash Price Performance

Shares of NASDAQ FCFS opened at $208.74 on Thursday. The company has a market capitalization of $9.15 billion, a PE ratio of 26.16 and a beta of 0.53. The company has a quick ratio of 3.42, a current ratio of 4.77 and a debt-to-equity ratio of 0.98. FirstCash Holdings, Inc. has a twelve month low of $119.21 and a twelve month high of $235.97. The firm has a fifty day simple moving average of $220.78 and a 200 day simple moving average of $200.84.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 EPS for the quarter, beating 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 business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the firm posted $2.07 earnings per share. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. On average, sell-side analysts forecast that FirstCash Holdings, Inc. will post 11.33 EPS for the current year.

Insider Activity at FirstCash

In other FirstCash news, SVP Raul Ramos sold 6,835 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the transaction, the senior vice president directly owned 20,400 shares of the company’s stock, valued at approximately $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Brent Stuart sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $228.49, for a total value of $2,284,900.00. Following the completion of the transaction, the chief operating officer directly owned 140,846 shares in the company, valued at approximately $32,181,902.54. This trade represents a 6.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,500 shares of company stock worth $6,243,104 over the last quarter. 2.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

FCFS has been the topic of several recent research reports. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. TD Cowen increased 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. Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings cut FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Finally, Canaccord Genuity Group upped their price objective on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.25.

FirstCash Company 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.