Aperio Group LLC raised its position in FirstCash Inc (NASDAQ:FCFS) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 15,402 shares of the credit services provider’s stock after buying an additional 3,826 shares during the period. Aperio Group LLC’s holdings in FirstCash were worth $898,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. Chevy Chase Trust Holdings Inc. raised its stake in shares of FirstCash by 0.3% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock worth $256,000 after buying an additional 12 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of FirstCash by 0.3% in the second quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock worth $1,740,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of FirstCash by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 5,350 shares of the credit services provider’s stock worth $262,000 after buying an additional 110 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its stake in shares of FirstCash by 0.4% in the first quarter. Prescott Group Capital Management L.L.C. now owns 36,440 shares of the credit services provider’s stock worth $1,791,000 after buying an additional 135 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of FirstCash by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 19,704 shares of the credit services provider’s stock worth $968,000 after buying an additional 200 shares during the last quarter.
FirstCash Inc (NASDAQ FCFS) traded down 0.25% during midday trading on Friday, reaching $60.05. The company had a trading volume of 130,831 shares. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75. The company has a market cap of $2.87 billion, a PE ratio of 32.51 and a beta of 0.90. The company’s 50-day moving average is $58.48 and its 200 day moving average is $51.62.
FirstCash (NASDAQ:FCFS) last posted its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. The business had revenue of $416.60 million during 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 company earned $0.51 earnings per share. On average, equities research analysts forecast that FirstCash Inc will post $2.66 EPS for the current year.
FirstCash declared that its Board of Directors has approved a stock repurchase plan on Monday, May 15th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to purchase up to 4% of its shares through open market purchases. Shares buyback plans are usually a sign 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. Investors of record on Tuesday, August 15th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 annualized dividend and a yield of 1.26%. FirstCash’s dividend payout ratio (DPR) is presently 25.38%.
FCFS has been the subject of several research reports. Jefferies Group LLC set a $69.00 price target on FirstCash and gave the company a “buy” rating in a report on Friday. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a report on Wednesday. Janney Montgomery Scott lowered FirstCash from a “buy” rating to a “neutral” rating and reduced their price target for the company from $58.55 to $58.00 in a report on Monday, July 17th. Wedbush lifted their price target on FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, May 24th. Finally, BidaskClub upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $59.43.
In related news, CFO R Douglas Orr sold 7,500 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, 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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