Panagora Asset Management Inc. increased its position in FirstCash Inc (NYSE:FCFS) by 10.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,891 shares of the credit services provider’s stock after buying an additional 14,220 shares during the period. Panagora Asset Management Inc. owned 0.33% of FirstCash worth $11,963,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of FirstCash in the second quarter worth about $205,000. Granahan Investment Management Inc. MA purchased a new stake in shares of FirstCash in the second quarter worth about $252,000. Tocqueville Asset Management L.P. purchased a new stake in shares of FirstCash in the second quarter worth about $259,000. Tower Research Capital LLC TRC purchased a new stake in shares of FirstCash in the second quarter worth about $276,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of FirstCash in the second quarter worth about $323,000. Institutional investors own 95.30% of the company’s stock.
Several equities research analysts have weighed in on FCFS shares. Zacks Investment Research cut FirstCash from a “buy” rating to a “hold” rating in a research note on Thursday, September 6th. Barclays started coverage on FirstCash in a research note on Wednesday, September 26th. They set an “overweight” rating and a $95.00 price objective on the stock. ValuEngine cut FirstCash from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Wedbush raised FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research note on Friday, October 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $93.17.
FCFS opened at $89.05 on Monday. FirstCash Inc has a one year low of $65.55 and a one year high of $95.40.
FirstCash (NYSE:FCFS) last released its earnings results on Thursday, October 25th. The credit services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. The business had revenue of $429.88 million for the quarter, compared to the consensus estimate of $440.46 million.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were paid a dividend of $0.25 per share. This is a boost from FirstCash’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday, November 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%.
FirstCash declared that its board has approved a share repurchase plan on Thursday, October 25th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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