FirstCash (NASDAQ:FCFS) Insider Sells 2,000 Shares of Stock

FirstCash Holdings, Inc. (NASDAQ:FCFS) insider Howard Hambleton sold 2,000 shares of FirstCash stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the transaction, the insider owned 30,406 shares of the company’s stock, valued at $6,475,869.88. This trade represents a 6.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

FirstCash Stock Down 1.6%

FirstCash stock traded down $3.50 during midday trading on Tuesday, hitting $212.74. The stock had a trading volume of 236,745 shares, compared to its average volume of 373,423. The business has a fifty day moving average price of $214.64 and a 200 day moving average price of $205.91. FirstCash Holdings, Inc. has a 12 month low of $137.31 and a 12 month high of $235.97. The stock has a market cap of $9.23 billion, a P/E ratio of 24.29 and a beta of 0.53. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, July 23rd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.FirstCash’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. Research analysts predict that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. FirstCash’s dividend payout ratio is currently 19.18%.

Analysts Set New Price Targets

Several analysts have weighed in on FCFS shares. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Monday, August 10th. Canaccord Genuity Group raised their price target on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings raised shares of FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, August 7th. TD Cowen boosted their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstCash currently has an average rating of “Moderate Buy” and an average price target of $249.00.

Institutional Investors Weigh In On FirstCash

Large investors have recently added to or reduced their stakes in the stock. Harbor Investment Advisory LLC bought a new stake in FirstCash in the first quarter valued at $26,000. Geneos Wealth Management Inc. bought a new position in shares of FirstCash during the first quarter worth about $29,000. CIBC Private Wealth Group LLC grew its position in shares of FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock worth $31,000 after acquiring an additional 162 shares during the last quarter. High Point Wealth Management LLC acquired a new stake in shares of FirstCash in the 4th quarter worth about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of FirstCash in the 2nd quarter worth about $34,000. 80.30% of the stock is owned by institutional investors and hedge funds.

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.