TimesSquare Capital Management LLC Invests $9.74 Million in FirstCash Holdings, Inc. $FCFS

TimesSquare Capital Management LLC bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,028 shares of the company’s stock, valued at approximately $9,740,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in FirstCash in the second quarter valued at $69,779,000. JPMorgan Chase & Co. boosted its stake 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of FirstCash by 36.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock valued at $186,361,000 after buying an additional 312,132 shares during the period. AQR Capital Management LLC raised its stake in FirstCash by 67.6% in the third quarter. AQR Capital Management LLC now owns 623,059 shares of the company’s stock worth $97,503,000 after buying an additional 251,305 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in FirstCash by 280.5% in the third quarter. Alliancebernstein L.P. now owns 305,856 shares of the company’s stock worth $48,454,000 after buying an additional 225,466 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FCFS shares. TD Cowen upped their target price on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Canaccord Genuity Group upped their price target on FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Weiss Ratings raised FirstCash from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, August 7th. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, FirstCash currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Activity

In related news, SVP Raul Ramos sold 6,835 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the sale, the senior vice president directly owned 20,400 shares of the company’s stock, valued at approximately $4,594,692. This represents a 25.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.86% of the company’s stock.

FirstCash Trading Up 0.7%

FirstCash stock opened at $216.24 on Tuesday. FirstCash Holdings, Inc. has a 52-week low of $136.43 and a 52-week high of $235.97. The company has a market cap of $9.38 billion, a P/E ratio of 24.68 and a beta of 0.53. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01. The business has a 50-day simple moving average of $214.64 and a two-hundred day simple moving average of $205.91.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $1.34 earnings per share. Analysts predict that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Announces Dividend

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

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.