Bank of New York Mellon Corp lifted its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS – Get Rating) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,902 shares of the company’s stock after acquiring an additional 5,204 shares during the period. Bank of New York Mellon Corp’s holdings in FirstCash were worth $35,055,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in FCFS. Citadel Advisors LLC increased its holdings in shares of FirstCash by 75.9% in the 3rd quarter. Citadel Advisors LLC now owns 131,197 shares of the company’s stock worth $9,624,000 after purchasing an additional 56,612 shares in the last quarter. AlphaCrest Capital Management LLC raised its position in FirstCash by 164.5% in the 3rd quarter. AlphaCrest Capital Management LLC now owns 16,516 shares of the company’s stock worth $1,211,000 after buying an additional 10,271 shares during the last quarter. Boothbay Fund Management LLC lifted its stake in FirstCash by 3.6% during the 3rd quarter. Boothbay Fund Management LLC now owns 13,478 shares of the company’s stock valued at $989,000 after acquiring an additional 464 shares during the period. Ergoteles LLC purchased a new stake in shares of FirstCash during the 3rd quarter valued at about $963,000. Finally, Oberweis Asset Management Inc. grew its stake in shares of FirstCash by 91.4% in the third quarter. Oberweis Asset Management Inc. now owns 13,400 shares of the company’s stock worth $983,000 after acquiring an additional 6,400 shares during the period. 78.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
FCFS has been the topic of several research reports. Barclays dropped their target price on shares of FirstCash from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Tuesday, February 14th. Credit Suisse Group assumed coverage on FirstCash in a report on Wednesday, December 14th. They issued a “neutral” rating and a $88.00 price objective for the company. Finally, Stephens raised FirstCash from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $105.00 to $120.00 in a report on Thursday, January 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.20.
FirstCash Trading Down 0.1 %
FirstCash (NASDAQ:FCFS – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.09. FirstCash had a return on equity of 13.53% and a net margin of 9.29%. The business had revenue of $749.34 million during the quarter, compared to analyst estimates of $752.47 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. FirstCash’s revenue for the quarter was up 49.3% on a year-over-year basis. As a group, equities analysts predict that FirstCash Holdings, Inc. will post 5.95 earnings per share for the current year.
FirstCash Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.50%. The ex-dividend date was Monday, February 13th. FirstCash’s dividend payout ratio is 24.58%.
Insiders Place Their Bets
In other news, Director Douglas Richard Rippel sold 25,715 shares of the stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $91.27, for a total value of $2,347,008.05. Following the completion of the sale, the director now directly owns 7,032,102 shares of the company’s stock, valued at $641,819,949.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 595,628 shares of company stock worth $53,164,121. Company insiders own 19.35% of the company’s stock.
FirstCash Holdings, Inc operates retail pawn stores in the United States and 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.
- Get a free copy of the StockNews.com research report on FirstCash (FCFS)
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