Rockefeller Financial Services Inc. decreased its stake in FirstCash Inc (NASDAQ:FCFS) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,552 shares of the credit services provider’s stock after selling 574 shares during the period. Rockefeller Financial Services Inc. owned 0.62% of FirstCash worth $17,580,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of FirstCash by 14.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,469 shares of the credit services provider’s stock worth $255,000 after buying an additional 696 shares during the last quarter. AQR Capital Management LLC increased its stake in FirstCash by 32.8% in the fourth quarter. AQR Capital Management LLC now owns 55,075 shares of the credit services provider’s stock worth $2,589,000 after buying an additional 13,607 shares during the period. Norges Bank acquired a new stake in FirstCash during the fourth quarter worth about $24,894,000. Teachers Advisors LLC increased its stake in FirstCash by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 102,818 shares of the credit services provider’s stock worth $4,832,000 after buying an additional 20,898 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in FirstCash during the first quarter worth about $215,000.
FirstCash Inc (NASDAQ:FCFS) traded down 0.45% on Friday, hitting $58.15. 193,151 shares of the stock were exchanged. The firm has a market cap of $2.77 billion, a PE ratio of 31.48 and a beta of 0.90. The company has a 50-day moving average price of $58.25 and a 200-day moving average price of $51.13. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75.
FirstCash (NASDAQ:FCFS) last released its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.47 by $0.05. The company had revenue of $416.60 million for the quarter, compared to the consensus estimate of $410.65 million. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. FirstCash’s quarterly revenue was up 128.9% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, equities research analysts anticipate that FirstCash Inc will post $2.66 EPS for the current fiscal year.
FirstCash announced that its Board of Directors has approved a share buyback program on Monday, May 15th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.31%. FirstCash’s dividend payout ratio is presently 25.38%.
A number of equities analysts recently weighed in on the stock. JMP Securities upped their price objective on shares of FirstCash and gave the company an “outperform” rating in a report on Friday, July 28th. CL King cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. BidaskClub cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Janney Montgomery Scott cut shares of FirstCash from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $58.55 to $58.00 in a research report on Monday, July 17th. Finally, Zacks Investment Research raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. FirstCash presently has an average rating of “Buy” and a consensus target price of $57.86.
In related news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
FirstCash Company Profile
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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