Louisiana State Employees Retirement System boosted its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,800 shares of the company’s stock after purchasing an additional 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FirstCash were worth $1,008,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its stake in FirstCash by 74.6% in the first quarter. Parkside Financial Bank & Trust now owns 489 shares of the company’s stock valued at $47,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd increased its stake in FirstCash by 87.3% in the first quarter. Covestor Ltd now owns 691 shares of the company’s stock valued at $49,000 after purchasing an additional 322 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in FirstCash in the first quarter valued at $77,000. Financial Management Professionals Inc. increased its stake in FirstCash by 14.7% in the first quarter. Financial Management Professionals Inc. now owns 1,108 shares of the company’s stock valued at $106,000 after purchasing an additional 142 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in FirstCash by 25.9% in the first quarter. Tower Research Capital LLC TRC now owns 1,789 shares of the company’s stock valued at $171,000 after purchasing an additional 368 shares in the last quarter. 77.28% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on FCFS shares. Stephens reaffirmed an “overweight” rating and issued a $120.00 price target on shares of FirstCash in a research note on Tuesday, September 12th. StockNews.com started coverage on shares of FirstCash in a report on Thursday. They set a “buy” rating for the company.
FirstCash Stock Performance
Shares of FCFS opened at $100.73 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.81 and a current ratio of 3.66. The stock has a 50 day moving average price of $94.64 and a two-hundred day moving average price of $97.06. The firm has a market capitalization of $4.54 billion, a P/E ratio of 20.19 and a beta of 0.77. FirstCash Holdings, Inc. has a 52 week low of $75.48 and a 52 week high of $105.68.
FirstCash (NASDAQ:FCFS – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.16. The firm had revenue of $750.62 million during the quarter, compared to analyst estimates of $743.44 million. FirstCash had a return on equity of 13.47% and a net margin of 7.90%. During the same period in the previous year, the company posted $1.08 EPS. Equities analysts forecast that FirstCash Holdings, Inc. will post 5.58 earnings per share for the current fiscal year.
FirstCash Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.35 per share. This is a positive change from FirstCash’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Monday, August 14th. FirstCash’s payout ratio is currently 28.06%.
Insiders Place Their Bets
In other FirstCash news, Director Douglas Richard Rippel sold 1,439 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $98.08, for a total transaction of $141,137.12. Following the completion of the sale, the director now directly owns 7,020,304 shares of the company’s stock, valued at approximately $688,551,416.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 252,212 shares of company stock valued at $25,128,141. Corporate insiders own 18.08% of the company’s stock.
About FirstCash
FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.
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