Formula Growth Ltd. Acquires Shares of 10,000 FirstCash Holdings, Inc. $FCFS

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

Several other large investors also recently made changes to their positions in the business. Coastal Bridge Advisors LLC bought a new stake in FirstCash during the 2nd quarter worth about $2,109,000. Public Employees Retirement System of Ohio acquired a new stake in FirstCash in the 2nd quarter valued at about $8,063,000. Corient Private Wealth LP bought a new position in shares of FirstCash in the second quarter worth about $1,245,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of FirstCash in the second quarter worth about $8,025,472,000. Finally, Azora Capital LP acquired a new position in shares of FirstCash during the second quarter worth approximately $45,580,000. Institutional investors own 80.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity at FirstCash

In other news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the sale, the chief financial officer owned 34,734 shares of the company’s stock, valued at $7,502,544. This represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the sale, the senior vice president owned 20,400 shares in the company, valued at approximately $4,594,692. The trade was a 25.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,183 shares of company stock worth $3,761,228 over the last ninety days. 2.86% of the stock is owned by corporate insiders.

FirstCash Stock Up 1.9%

Shares of FirstCash stock opened at $224.07 on Friday. The company has a market capitalization of $9.72 billion, a P/E ratio of 25.58 and a beta of 0.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. The business has a 50-day moving average of $214.37 and a two-hundred day moving average of $208.62. FirstCash Holdings, Inc. has a 1 year low of $144.56 and a 1 year high of $238.93.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business posted $1.34 EPS. FirstCash’s revenue for the quarter was up 29.4% on a year-over-year basis. As a group, equities analysts predict that FirstCash Holdings, Inc. will post 11.85 EPS for the current year.

FirstCash Dividend Announcement

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

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.