Acadian Asset Management LLC Raises Stake in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Acadian Asset Management LLC raised its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 26.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,203 shares of the company’s stock after purchasing an additional 42,912 shares during the period. Acadian Asset Management LLC’s holdings in FirstCash were worth $21,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Truist Financial Corp increased its holdings in FirstCash by 21.2% in the fourth quarter. Truist Financial Corp now owns 6,746 shares of the company’s stock valued at $731,000 after buying an additional 1,182 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of FirstCash by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 435,701 shares of the company’s stock worth $47,226,000 after acquiring an additional 1,240 shares in the last quarter. Principal Securities Inc. purchased a new stake in FirstCash during the fourth quarter worth approximately $51,000. AGF Management Ltd. acquired a new position in FirstCash in the fourth quarter valued at approximately $2,769,000. Finally, Jump Financial LLC acquired a new position in FirstCash in the fourth quarter valued at approximately $716,000. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BTIG Research assumed coverage on shares of FirstCash in a report on Friday, June 7th. They set a “neutral” rating on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Transactions at FirstCash

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $107.18, for a total transaction of $214,360.00. Following the completion of the sale, the chief financial officer now directly owns 90,715 shares of the company’s stock, valued at approximately $9,722,833.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FirstCash news, Director Douglas Richard Rippel sold 2,864 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $120.01, for a total transaction of $343,708.64. Following the completion of the transaction, the director now owns 4,743,159 shares in the company, valued at approximately $569,226,511.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $107.18, for a total transaction of $214,360.00. Following the transaction, the chief financial officer now owns 90,715 shares in the company, valued at $9,722,833.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,180 shares of company stock worth $1,435,842. Company insiders own 14.77% of the company’s stock.

FirstCash Stock Down 1.0 %

FCFS opened at $117.51 on Tuesday. FirstCash Holdings, Inc. has a one year low of $88.79 and a one year high of $133.64. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.04 and a current ratio of 4.03. The stock has a market capitalization of $5.34 billion, a P/E ratio of 22.91 and a beta of 0.62. The business’s 50-day simple moving average is $112.45 and its 200-day simple moving average is $116.16.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. The company had revenue of $831.00 million for the quarter, compared to analyst estimates of $824.87 million. FirstCash had a return on equity of 14.90% and a net margin of 7.17%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. Analysts anticipate that FirstCash Holdings, Inc. will post 6.56 EPS for the current year.

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.29%. This is a boost from FirstCash’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, August 15th. FirstCash’s dividend payout ratio is presently 29.63%.

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.