MTM Investment Management LLC Purchases Shares of 900 FirstCash Holdings, Inc. $FCFS

by · The Markets Daily

MTM Investment Management LLC acquired a new position in FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 900 shares of the company’s stock, valued at approximately $122,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its stake in FirstCash by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 980,738 shares of the company’s stock worth $132,552,000 after buying an additional 11,534 shares in the last quarter. Boston Partners increased its position in shares of FirstCash by 0.3% during the 2nd quarter. Boston Partners now owns 652,472 shares of the company’s stock valued at $87,994,000 after purchasing an additional 2,014 shares during the last quarter. Nuveen LLC purchased a new position in shares of FirstCash during the 1st quarter valued at about $55,340,000. Goldman Sachs Group Inc. lifted its position in FirstCash by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock worth $46,866,000 after buying an additional 34,364 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in FirstCash by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 388,635 shares of the company’s stock worth $52,520,000 after buying an additional 6,633 shares in the last quarter. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Stock Performance

NASDAQ:FCFS opened at $160.01 on Monday. The firm’s fifty day simple moving average is $153.91 and its 200 day simple moving average is $140.71. The stock has a market cap of $7.06 billion, a P/E ratio of 24.58 and a beta of 0.66. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79. FirstCash Holdings, Inc. has a twelve month low of $100.24 and a twelve month high of $166.08.

FirstCash (NASDAQ:FCFS – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.35. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The company had revenue of $904.27 million during the quarter, compared to the consensus estimate of $845.28 million. During the same period in the prior year, the firm earned $1.67 earnings per share. FirstCash’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Friday, November 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.0%. FirstCash’s dividend payout ratio (DPR) is currently 24.24%.

FirstCash announced that its board has authorized a share repurchase plan on Thursday, October 30th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to purchase up to 2.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FCFS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a research report on Wednesday, October 8th. TD Cowen boosted their price target on shares of FirstCash from $181.00 to $188.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Jefferies Financial Group upgraded shares of FirstCash to a “strong-buy” rating in a research report on Monday, August 18th. Wall Street Zen upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Finally, Loop Capital cut FirstCash from a “buy” rating to a “hold” rating and set a $145.00 target price for the company. in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $167.00.

Read Our Latest Analysis on FirstCash

Insiders Place Their Bets

In related news, CFO R Douglas Orr sold 2,852 shares of FirstCash stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $159.72, for a total transaction of $455,521.44. Following the completion of the transaction, the chief financial officer directly owned 39,734 shares of the company’s stock, valued at $6,346,314.48. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Rick L. Wessel sold 30,976 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the completion of the sale, the chief executive officer owned 901,982 shares in the company, valued at approximately $125,673,152.06. This trade represents a 3.32% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 113,000 shares of company stock worth $15,883,363. Company insiders own 2.93% of the company’s stock.

FirstCash Profile

(Free Report)

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. 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.

Featured Articles

Want to see what other hedge funds are holding FCFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report).