Sei Investments Co. lifted its position in FirstCash Inc (NYSE:FCFS) by 137.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,821 shares of the credit services provider’s stock after acquiring an additional 10,891 shares during the quarter. Sei Investments Co.’s holdings in FirstCash were worth $1,691,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in FCFS. Sawgrass Asset Management LLC raised its holdings in FirstCash by 203.2% in the second quarter. Sawgrass Asset Management LLC now owns 20,092 shares of the credit services provider’s stock worth $1,805,000 after purchasing an additional 13,466 shares in the last quarter. Jane Street Group LLC bought a new position in FirstCash in the first quarter worth about $229,000. New York State Common Retirement Fund raised its holdings in FirstCash by 19.0% in the first quarter. New York State Common Retirement Fund now owns 450,226 shares of the credit services provider’s stock worth $36,581,000 after purchasing an additional 71,889 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of FirstCash during the second quarter worth about $205,000. Finally, Prudential Financial Inc. grew its stake in shares of FirstCash by 0.8% during the first quarter. Prudential Financial Inc. now owns 79,018 shares of the credit services provider’s stock worth $6,420,000 after acquiring an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Credit Suisse Group lowered FirstCash from an “outperform” rating to a “neutral” rating in a research note on Friday, June 1st. Finally, ValuEngine lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $92.80.
Shares of FCFS stock opened at $79.60 on Friday. FirstCash Inc has a fifty-two week low of $57.75 and a fifty-two week high of $95.40. The stock has a market cap of $3.56 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.36 and a current ratio of 6.48.
FirstCash (NYSE:FCFS) last issued its quarterly earnings results on Thursday, July 26th. The credit services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.05. FirstCash had a return on equity of 10.32% and a net margin of 9.40%. The business had revenue of $419.97 million for the quarter, compared to analyst estimates of $424.01 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up .8% on a year-over-year basis. sell-side analysts predict that FirstCash Inc will post 3.5 EPS for the current year.
FirstCash announced that its Board of Directors has authorized a share buyback program on Thursday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.11%. FirstCash’s payout ratio is 32.12%.
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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