Boston Advisors LLC acquired a new position in shares of FirstCash, Inc. (NASDAQ:FCFS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 166,727 shares of the credit services provider’s stock, valued at approximately $10,529,000. Boston Advisors LLC owned approximately 0.35% of FirstCash at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. AlphaOne Investment Services LLC acquired a new position in FirstCash during the 2nd quarter worth $207,000. Riverhead Capital Management LLC boosted its holdings in shares of FirstCash by 74.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,663 shares of the credit services provider’s stock valued at $214,000 after buying an additional 1,563 shares during the period. Miles Capital Inc. acquired a new position in shares of FirstCash in the 2nd quarter valued at about $221,000. Strs Ohio boosted its holdings in shares of FirstCash by 100.0% in the 2nd quarter. Strs Ohio now owns 3,800 shares of the credit services provider’s stock valued at $221,000 after buying an additional 1,900 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of FirstCash in the 2nd quarter valued at about $227,000.
Shares of FirstCash, Inc. (NASDAQ FCFS) traded down $0.60 on Friday, hitting $63.40. 91,800 shares of the stock traded hands, compared to its average volume of 235,301. FirstCash, Inc. has a 12 month low of $39.80 and a 12 month high of $65.60.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $435.40 million for the quarter, compared to analysts’ expectations of $418.57 million. FirstCash had a net margin of 6.49% and a return on equity of 7.66%. The business’s revenue was up 66.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be given a $0.20 dividend. This is an increase from FirstCash’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, November 10th. FirstCash’s dividend payout ratio (DPR) is 32.62%.
FirstCash declared that its board has authorized a stock repurchase program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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Several research analysts have recently commented on the stock. Janney Montgomery Scott lowered shares of FirstCash from a “buy” rating to a “neutral” rating and decreased their price target for the company from $58.55 to $58.00 in a report on Monday, July 17th. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Wednesday, August 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price objective on shares of FirstCash in a research report on Thursday, October 12th. BidaskClub upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a research report on Friday, October 27th. Finally, CL King downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $65.14.
FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.
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