American International Group Inc. Decreases Stake in FirstCash Holdings, Inc. (NASDAQ:FCFS)

American International Group Inc. reduced its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,399 shares of the company’s stock after selling 2,219 shares during the period. American International Group Inc.’s holdings in FirstCash were worth $7,414,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of FirstCash in the fourth quarter worth about $51,000. Headinvest LLC purchased a new stake in shares of FirstCash in the third quarter worth about $50,000. GAMMA Investing LLC purchased a new stake in shares of FirstCash in the fourth quarter worth about $69,000. Parkside Financial Bank & Trust lifted its position in shares of FirstCash by 39.9% in the third quarter. Parkside Financial Bank & Trust now owns 701 shares of the company’s stock worth $70,000 after buying an additional 200 shares in the last quarter. Finally, Covestor Ltd increased its stake in FirstCash by 16.2% during the third quarter. Covestor Ltd now owns 985 shares of the company’s stock worth $99,000 after acquiring an additional 137 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

FirstCash Trading Down 2.0 %

FCFS opened at $107.10 on Friday. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 20.85 and a beta of 0.64. The stock’s 50 day moving average price is $118.61 and its 200-day moving average price is $116.76. FirstCash Holdings, Inc. has a one year low of $88.05 and a one year high of $133.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 3.03 and a current ratio of 3.99.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, April 25th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.05. The firm had revenue of $836.40 million for the quarter, compared to analysts’ expectations of $846.08 million. FirstCash had a return on equity of 14.73% and a net margin of 7.23%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities analysts forecast that FirstCash Holdings, Inc. will post 6.75 EPS for the current year.

FirstCash Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.31%. FirstCash’s dividend payout ratio is 27.29%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. BTIG Research assumed coverage on FirstCash in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $125.00 to $140.00 in a research note on Monday, April 29th. Finally, TD Cowen raised FirstCash from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $145.00 in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling

In related news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $116.53, for a total value of $233,060.00. Following the transaction, the chief financial officer now owns 92,715 shares of the company’s stock, valued at $10,804,078.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Douglas Richard Rippel sold 720,950 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $117.90, for a total value of $85,000,005.00. Following the transaction, the director now owns 4,746,023 shares of the company’s stock, valued at $559,556,111.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $116.53, for a total value of $233,060.00. Following the completion of the transaction, the chief financial officer now directly owns 92,715 shares in the company, valued at approximately $10,804,078.95. The disclosure for this sale can be found here. 14.77% of the stock is owned by insiders.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.