Baird Financial Group Inc. Decreases Stake in FirstCash Holdings, Inc (NASDAQ:FCFS)

Baird Financial Group Inc. lessened its position in shares of FirstCash Holdings, Inc (NASDAQ:FCFSGet Rating) by 40.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,707 shares of the company’s stock after selling 5,164 shares during the quarter. Baird Financial Group Inc.’s holdings in FirstCash were worth $536,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FCFS. Vanguard Group Inc. raised its stake in shares of FirstCash by 19.9% during the 1st quarter. Vanguard Group Inc. now owns 4,396,960 shares of the company’s stock worth $309,282,000 after buying an additional 730,072 shares during the last quarter. Stephens Investment Management Group LLC acquired a new position in shares of FirstCash during the 1st quarter worth $46,538,000. Hood River Capital Management LLC raised its stake in FirstCash by 150.2% in the 1st quarter. Hood River Capital Management LLC now owns 331,938 shares of the company’s stock valued at $23,349,000 after purchasing an additional 199,264 shares during the last quarter. Cooke & Bieler LP raised its stake in FirstCash by 7.0% in the 1st quarter. Cooke & Bieler LP now owns 2,503,337 shares of the company’s stock valued at $176,085,000 after purchasing an additional 163,370 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in FirstCash by 6.8% in the 1st quarter. Bank of America Corp DE now owns 1,297,967 shares of the company’s stock valued at $91,298,000 after purchasing an additional 82,256 shares during the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FCFS. Credit Suisse Group raised shares of FirstCash from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $83.00 to $88.00 in a research note on Monday, October 17th. StockNews.com began coverage on FirstCash in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Loop Capital began coverage on FirstCash in a report on Tuesday, September 27th. They issued a “hold” rating and a $80.00 price target for the company. Wedbush lifted their price target on FirstCash from $80.00 to $90.00 in a report on Monday, November 7th. Finally, Barclays lifted their price target on FirstCash from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 31st. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $90.20.

Insider Transactions at FirstCash

In other news, Director James H. Graves sold 8,000 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $96.00, for a total transaction of $768,000.00. Following the completion of the sale, the director now owns 17,867 shares in the company, valued at approximately $1,715,232. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.35% of the company’s stock.

FirstCash Stock Up 0.4 %

Shares of NASDAQ:FCFS opened at $90.00 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.56 and a current ratio of 3.46. FirstCash Holdings, Inc has a 1 year low of $58.30 and a 1 year high of $100.00. The stock has a market capitalization of $4.17 billion, a P/E ratio of 20.69 and a beta of 0.80. The stock has a 50-day simple moving average of $86.16 and a 200-day simple moving average of $77.81.

FirstCash (NASDAQ:FCFSGet Rating) last issued its earnings results on Thursday, October 27th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.11. FirstCash had a return on equity of 12.93% and a net margin of 8.17%. The business had revenue of $672.14 million during the quarter, compared to analysts’ expectations of $670.35 million. Equities analysts forecast that FirstCash Holdings, Inc will post 5 earnings per share for the current year.

FirstCash Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, November 14th. FirstCash’s payout ratio is currently 30.34%.

FirstCash Profile

(Get Rating)

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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Institutional Ownership by Quarter for FirstCash (NASDAQ:FCFS)

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