Philadelphia Financial Management of San Francisco LLC Buys New Shares in FirstCash Holdings, Inc. $FCFS

Philadelphia Financial Management of San Francisco LLC purchased a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS) during the second quarter, HoldingsChannel reports. The fund purchased 37,100 shares of the company’s stock, valued at approximately $8,025,472,000. FirstCash accounts for approximately 1.6% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 21st biggest holding.

Other hedge funds also recently made changes to their positions in the company. Harbor Investment Advisory LLC purchased a new position in shares of FirstCash in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. purchased a new position in FirstCash during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in FirstCash during the second quarter valued at $34,000. Assetmark Inc. raised its stake in shares of FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after acquiring an additional 103 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of FirstCash by 490.9% in the 4th 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. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on FCFS shares. Weiss Ratings lowered FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective for the company in a report on Monday, August 10th. Finally, TD Cowen boosted their price target on FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, FirstCash has a consensus rating of “Moderate Buy” and an average price target of $249.00.

FirstCash Trading Down 4.2%

NASDAQ:FCFS opened at $219.82 on Thursday. The firm has a fifty day simple moving average of $214.43 and a 200-day simple moving average of $208.32. FirstCash Holdings, Inc. has a 12 month low of $144.56 and a 12 month high of $238.93. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $9.53 billion, a P/E ratio of 25.09 and a beta of 0.53.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. FirstCash had a net margin of 9.42% and a return on equity of 19.65%. The business’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. On average, equities research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th. FirstCash’s dividend payout ratio (DPR) is presently 19.18%.

Insider Activity at FirstCash

In related news, CFO R Douglas Orr sold 2,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the transaction, the chief financial officer directly owned 34,734 shares of the company’s stock, valued at approximately $7,502,544. This trade represents a 5.44% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 5,348 shares of FirstCash stock in a transaction on Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares in the company, valued at approximately $29,081,935.74. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,183 shares of company stock worth $3,761,228 in the last quarter. 2.86% of the stock is owned by insiders.

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.