FirstCash Holdings, Inc. $FCFS Stock Sold by State of Wyoming

State of Wyoming cut its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 87.3% in the third quarter, HoldingsChannel reports. The firm owned 449 shares of the company’s stock after selling 3,097 shares during the period. State of Wyoming’s holdings in FirstCash were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of FirstCash by 57.7% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,100 shares of the company’s stock valued at $866,000 after buying an additional 1,500 shares during the last quarter. Choreo LLC lifted its holdings in shares of FirstCash by 19.1% in the 3rd quarter. Choreo LLC now owns 1,386 shares of the company’s stock valued at $293,000 after buying an additional 222 shares during the period. BOKF NA lifted its holdings in shares of FirstCash by 3.3% in the 3rd quarter. BOKF NA now owns 2,508 shares of the company’s stock valued at $530,000 after buying an additional 80 shares during the period. John Boyer Inc. acquired a new position in shares of FirstCash in the 3rd quarter valued at about $83,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of FirstCash in the third quarter worth about $590,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Stock Up 0.3%

FCFS opened at $184.00 on Thursday. FirstCash Holdings, Inc. has a fifty-two week low of $146.95 and a fifty-two week high of $238.93. The company has a debt-to-equity ratio of 1.08, a quick ratio of 3.42 and a current ratio of 4.81. The company has a fifty day moving average of $207.93 and a two-hundred day moving average of $206.65. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 19.94 and a beta of 0.59.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.05. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $1.86 earnings per share. The company’s revenue was up 17.7% compared to the same quarter last year. On average, research analysts expect that FirstCash Holdings, Inc. will post 11.03 earnings per share for the current year.

FirstCash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be paid a $0.46 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.84 annualized dividend and a dividend yield of 1.0%. This is a boost from FirstCash’s previous quarterly dividend of $0.42. FirstCash’s dividend payout ratio (DPR) is presently 19.93%.

FirstCash declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 28th that allows the company to repurchase $200 million in shares. This buyback authorization allows the company to buy up to 2.4% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 target price on the stock in a report on Monday, August 10th. Wall Street Zen cut FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Stephens reissued an “overweight” rating and issued a $250.00 price target on shares of FirstCash in a report on Thursday, October 1st. Canaccord Genuity Group lowered their price objective on FirstCash from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Finally, TD Cowen lowered their price objective on FirstCash from $242.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

Insiders Place Their Bets

In related news, Director James Graves sold 3,750 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $221.20, for a total value of $829,500.00. Following the completion of the transaction, the director owned 11,929 shares of the company’s stock, valued at approximately $2,638,694.80. This represents a 23.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO R. Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $216.00, for a total value of $432,000.00. Following the transaction, the chief financial officer owned 34,734 shares in the company, valued at $7,502,544. This represents 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. Insiders have sold 14,098 shares of company stock worth $3,051,281 in the last 90 days. 2.86% of the stock is currently owned by company insiders.

About FirstCash

FirstCash Holdings, Inc. operates pawn stores that provide short-term, non-recourse loans secured by personal property and sell previously owned merchandise. Its stores also purchase items from customers, including jewelry, electronics, tools and other goods. The company serves customers in the United States and Latin America, including Mexico, Guatemala, El Salvador and Colombia. Its retail operations offer a range of pre-owned goods, with jewelry among its key product categories. FirstCash was formed in 2016 through the merger of First Cash Financial Services and Cash America International.