Formula Growth Ltd. Buys New Position in FirstCash Holdings, Inc. $FCFS

Formula Growth Ltd. bought a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $2,163,000.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of FirstCash during the 2nd quarter worth approximately $1,088,429,000. Price T Rowe Associates Inc. MD lifted its position in shares of FirstCash by 36.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock worth $186,361,000 after purchasing an additional 312,132 shares in the last quarter. Bank of America Corp DE acquired a new position in FirstCash during the second quarter worth $248,059,000. Geode Capital Management LLC boosted its holdings in FirstCash by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock worth $166,367,000 after purchasing an additional 31,550 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in FirstCash by 0.6% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

Insider Activity at FirstCash

In other news, COO Thomas Brent Stuart sold 5,348 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the sale, the chief operating officer owned 135,498 shares in the company, valued at approximately $29,081,935.74. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the sale, the chief financial officer directly owned 34,734 shares of the company’s stock, valued at $7,502,544. The trade was a 5.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 17,183 shares of company stock worth $3,761,228. 2.86% of the stock is owned by corporate insiders.

FirstCash Price Performance

NASDAQ:FCFS opened at $224.07 on Friday. FirstCash Holdings, Inc. has a 12-month low of $144.56 and a 12-month high of $238.93. The firm has a market capitalization of $9.72 billion, a price-to-earnings ratio of 25.58 and a beta of 0.53. The stock’s 50 day moving average price is $214.37 and its two-hundred day moving average price is $208.62. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $1.34 EPS. The firm’s revenue was up 29.4% compared to the same quarter last year. On average, analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current year.

FirstCash Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. FirstCash’s dividend payout ratio is presently 19.18%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FCFS shares. Weiss Ratings lowered FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. TD Cowen upped their price objective on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective for the company in a report on Monday, August 10th. Finally, Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $249.00.

FirstCash Profile

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.