FirstCash Holdings, Inc. (NASDAQ:FCFS) Sees Significant Growth in Short Interest

FirstCash Holdings, Inc. (NASDAQ:FCFS) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 786,601 shares, a growth of 51.3% from the January 29th total of 519,981 shares. Based on an average daily volume of 306,912 shares, the short-interest ratio is currently 2.6 days. Currently, 2.1% of the company’s stock are sold short. Currently, 2.1% of the company’s stock are sold short. Based on an average daily volume of 306,912 shares, the short-interest ratio is currently 2.6 days.

Insider Activity at FirstCash

In related news, insider Howard F. Hambleton sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $185.12, for a total transaction of $740,480.00. Following the completion of the sale, the insider directly owned 35,406 shares of the company’s stock, valued at approximately $6,554,358.72. This represents a 10.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO R Douglas Orr sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $175.37, for a total transaction of $701,480.00. Following the sale, the chief financial officer owned 111,289 shares in the company, valued at $19,516,751.93. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 30,500 shares of company stock worth $5,438,945. 2.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On FirstCash

A number of institutional investors have recently added to or reduced their stakes in FCFS. Vanguard Group Inc. raised its position in FirstCash by 2.1% during the third quarter. Vanguard Group Inc. now owns 4,096,956 shares of the company’s stock worth $649,040,000 after acquiring an additional 83,113 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of FirstCash by 36.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock valued at $186,361,000 after purchasing an additional 312,132 shares during the period. Geode Capital Management LLC raised its holdings in shares of FirstCash by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock valued at $166,367,000 after purchasing an additional 31,550 shares during the period. Dimensional Fund Advisors LP lifted its stake in FirstCash by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,170 shares of the company’s stock valued at $160,850,000 after purchasing an additional 5,626 shares during the last quarter. Finally, Stephens Investment Management Group LLC grew its holdings in FirstCash by 1.0% during the third quarter. Stephens Investment Management Group LLC now owns 857,510 shares of the company’s stock worth $135,847,000 after purchasing an additional 8,610 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

FirstCash Trading Up 1.9%

FirstCash stock opened at $192.79 on Friday. The company has a market cap of $8.48 billion, a price-to-earnings ratio of 25.98 and a beta of 0.49. The firm has a 50-day moving average of $172.04 and a 200-day moving average of $159.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 4.55 and a quick ratio of 3.36. FirstCash has a one year low of $109.51 and a one year high of $193.96.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, February 5th. The company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.10. FirstCash had a return on equity of 17.99% and a net margin of 9.02%.The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. FirstCash’s revenue was up 19.8% on a year-over-year basis. On average, equities analysts expect that FirstCash will post 7.7 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 18th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, February 18th. FirstCash’s dividend payout ratio is presently 22.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FCFS shares. Canaccord Genuity Group set a $217.00 target price on shares of FirstCash in a research note on Friday, February 6th. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Wall Street Zen downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of FirstCash in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.50.

About FirstCash

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.