Schwab Charles Investment Management Inc. cut its stake in FirstCash Inc (NYSE:FCFS) by 3.2% in the fourth quarter, Holdings Channel reports. The fund owned 300,504 shares of the credit services provider’s stock after selling 10,073 shares during the period. Schwab Charles Investment Management Inc.’s holdings in FirstCash were worth $20,269,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Earnest Partners LLC raised its stake in shares of FirstCash by 1.6% in the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock worth $93,090,000 after acquiring an additional 22,690 shares during the last quarter. Grandeur Peak Global Advisors LLC bought a new position in shares of FirstCash in the third quarter worth about $54,801,000. California Public Employees Retirement System raised its stake in shares of FirstCash by 3.9% in the third quarter. California Public Employees Retirement System now owns 166,423 shares of the credit services provider’s stock worth $10,510,000 after acquiring an additional 6,211 shares during the last quarter. Profit Investment Management LLC raised its stake in shares of FirstCash by 6.9% in the fourth quarter. Profit Investment Management LLC now owns 31,224 shares of the credit services provider’s stock worth $2,106,000 after acquiring an additional 2,011 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of FirstCash in the third quarter worth about $1,736,000. 91.47% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of FirstCash from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, February 1st. Wedbush reaffirmed an “outperform” rating and issued a $83.00 target price (up from $75.00) on shares of FirstCash in a research note on Monday, February 5th. ValuEngine downgraded shares of FirstCash from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, BidaskClub raised shares of FirstCash from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.83.
Shares of FirstCash Inc (FCFS) opened at $72.15 on Tuesday. FirstCash Inc has a 1 year low of $42.70 and a 1 year high of $75.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.69 and a current ratio of 6.99. The company has a market cap of $3,404.52, a P/E ratio of 26.24, a PEG ratio of 1.08 and a beta of 0.80.
FirstCash (NYSE:FCFS) last issued its quarterly earnings results on Thursday, February 1st. The credit services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.84 by $0.10. FirstCash had a net margin of 8.08% and a return on equity of 8.86%. The company had revenue of $480.21 million during the quarter, compared to analysts’ expectations of $467.32 million. During the same quarter in the previous year, the company earned $0.77 EPS. FirstCash’s revenue was up 3.9% on a year-over-year basis. research analysts expect that FirstCash Inc will post 3.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.22 per share. This is a boost from FirstCash’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, February 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.22%. FirstCash’s payout ratio is currently 29.24%.
In related news, CFO R Douglas Orr sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $73.43, for a total transaction of $367,150.00. Following the completion of the transaction, the chief financial officer now owns 172,000 shares in the company, valued at $12,629,960. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Brent Stuart acquired 1,080 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $73.64 per share, with a total value of $79,531.20. Following the acquisition, the insider now owns 8,283 shares of the company’s stock, valued at approximately $609,960.12. The disclosure for this purchase can be found here. 2.75% of the stock is owned by insiders.
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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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