FirstCash Holdings, Inc. $FCFS Shares Sold by Pullen Investment Management LLC

Pullen Investment Management LLC lowered its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 36.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,127 shares of the company’s stock after selling 7,379 shares during the quarter. FirstCash accounts for about 1.3% of Pullen Investment Management LLC’s portfolio, making the stock its 26th biggest position. Pullen Investment Management LLC’s holdings in FirstCash were worth $2,773,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Harbor Investment Advisory LLC acquired a new stake in FirstCash during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in shares of FirstCash during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of FirstCash during the second quarter worth $34,000. Assetmark Inc. raised its holdings in shares of FirstCash by 113.2% during the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after acquiring an additional 103 shares during the period. Finally, Root Financial Partners LLC raised its holdings in shares of FirstCash by 29.6% during the first quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after acquiring an additional 56 shares during the period. Institutional investors own 80.30% of the company’s stock.

FirstCash Stock Performance

Shares of FCFS stock opened at $172.75 on Monday. The company’s fifty day simple moving average is $216.47 and its 200-day simple moving average is $216.19. The company has a quick ratio of 3.42, a current ratio of 4.81 and a debt-to-equity ratio of 1.08. The firm has a market cap of $7.49 billion, a PE ratio of 18.72 and a beta of 0.55. FirstCash Holdings, Inc. has a 12 month low of $146.77 and a 12 month high of $238.93.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, October 22nd. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.63 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.86 earnings per share. Equities research analysts expect that FirstCash Holdings, Inc. will post 11.59 EPS for the current fiscal year.

FirstCash Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be given a dividend of $0.46 per share. This is a positive change from FirstCash’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.84 annualized dividend and a dividend yield of 1.1%. FirstCash’s payout ratio is presently 18.20%.

More FirstCash News

Here are the key news stories impacting FirstCash this week:

• Positive Sentiment: Record earnings and revenue: Third-quarter revenue increased 17.7% year over year to $1.10 billion, while adjusted EPS of $2.68 exceeded the $2.63 consensus estimate. GAAP net income rose 22% to $101.2 million, and adjusted EBITDA increased 18% to $213.0 million. FirstCash third-quarter results
• Positive Sentiment: Pawn operations remain strong: Revenue and segment income from the U.S., Latin American and U.K. pawn businesses each benefited from solid growth, with combined pawn revenue up 28%. Pawn receivables reached a record $908 million, while the company added 14 stores during the quarter and 42 year to date.
• Positive Sentiment: Shareholder returns increased: FirstCash raised its quarterly dividend 10% to $0.46 per share and repurchased $123 million of stock in the quarter, bringing year-to-date buybacks to $250 million.
• Positive Sentiment: Analyst remains bullish: TD Cowen reduced its price target from $242 to $235 but maintained a “Buy” rating, implying substantial potential upside based on the referenced price.
• Neutral Sentiment: Growth outlook is positive but mixed: Management expects continued double-digit growth in pawn operations and is pursuing the Ramsdens acquisition, which could add more than 175 U.K. locations. However, completion remains subject to antitrust approval and other closing conditions.
• Negative Sentiment: AFF remains a drag: Gross transaction volume in the retail POS payment-solutions segment fell 15% year over year, while net revenue declined 20%. Management expects fourth-quarter volume to decrease in the mid-teens percentage range and net revenue to fall 15%–20%, reflecting weakness in furniture and other discretionary retail.
• Negative Sentiment: Legal overhang: The Law Offices of Frank R. Cruz announced an investigation into potential securities-law violations related to company disclosures on October 22. The announcement does not establish wrongdoing, but it adds uncertainty and may weigh on sentiment. FirstCash securities investigation

Insider Buying and Selling

In other news, COO Thomas Stuart sold 5,348 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer owned 135,498 shares in the company, valued at $29,081,935.74. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard Hambleton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total value of $425,960.00. Following the sale, the insider owned 30,406 shares in the company, valued at approximately $6,475,869.88. This represents a 6.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,098 shares of company stock worth $3,051,281 over the last 90 days. Company insiders own 2.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on FCFS shares. Canaccord Genuity Group cut their price objective on shares of FirstCash from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen lowered their target price on FirstCash from $242.00 to $235.00 and set a “buy” rating for the company in a report on Friday. Weiss Ratings cut FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Wall Street Zen downgraded FirstCash from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Finally, Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

About FirstCash

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.