FirstCash Holdings, Inc. (NASDAQ:FCFS) Shares Purchased by Earnest Partners LLC

Earnest Partners LLC increased its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,344,383 shares of the company’s stock after purchasing an additional 55,919 shares during the quarter. FirstCash accounts for approximately 1.1% of Earnest Partners LLC’s investment portfolio, making the stock its 16th largest holding. Earnest Partners LLC owned 5.16% of FirstCash worth $245,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. increased its holdings in FirstCash by 4.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,173 shares of the company’s stock valued at $228,000 after buying an additional 95 shares in the last quarter. Retirement Systems of Alabama boosted its position in FirstCash by 0.3% during the first quarter. Retirement Systems of Alabama now owns 46,448 shares of the company’s stock worth $5,924,000 after purchasing an additional 122 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in FirstCash by 5.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,376 shares of the company’s stock valued at $298,000 after purchasing an additional 125 shares during the period. Parkside Financial Bank & Trust increased its position in shares of FirstCash by 15.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,230 shares of the company’s stock valued at $129,000 after buying an additional 164 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of FirstCash by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 17,252 shares of the company’s stock worth $1,809,000 after buying an additional 168 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

Analysts Set New Price Targets

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

FirstCash Price Performance

Shares of FirstCash stock opened at $113.63 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.03 and a quick ratio of 3.04. The business has a 50 day simple moving average of $115.25 and a two-hundred day simple moving average of $116.25. The stock has a market capitalization of $5.08 billion, a P/E ratio of 22.15 and a beta of 0.62. FirstCash Holdings, Inc. has a 12 month low of $95.00 and a 12 month high of $133.64.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. FirstCash had a return on equity of 14.90% and a net margin of 7.17%. The company had revenue of $831.00 million for the quarter, compared to analyst estimates of $824.87 million. During the same quarter last year, the firm posted $1.22 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that FirstCash Holdings, Inc. will post 6.56 EPS for the current fiscal year.

FirstCash Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from FirstCash’s previous quarterly dividend of $0.35. FirstCash’s dividend payout ratio is currently 29.63%.

Insider Buying and Selling at FirstCash

In other news, Director Douglas Richard Rippel sold 7,316 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.98, for a total transaction of $877,773.68. Following the transaction, the director now directly owns 4,735,843 shares in the company, valued at approximately $568,206,443.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Douglas Richard Rippel sold 7,316 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $119.98, for a total transaction of $877,773.68. Following the transaction, the director now directly owns 4,735,843 shares in the company, valued at approximately $568,206,443.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $107.18, for a total transaction of $214,360.00. Following the sale, the chief financial officer now directly owns 90,715 shares in the company, valued at approximately $9,722,833.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,154 shares of company stock worth $1,912,562. Insiders own 14.77% of the company’s stock.

FirstCash Company 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.