Xact Kapitalforvaltning AB boosted its stake in FirstCash Inc (NYSE:FCFS) by 20.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,516 shares of the credit services provider’s stock after acquiring an additional 1,100 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in FirstCash were worth $529,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FCFS. Legal & General Group Plc lifted its position in FirstCash by 6.4% during the 1st quarter. Legal & General Group Plc now owns 97,744 shares of the credit services provider’s stock worth $7,891,000 after buying an additional 5,908 shares in the last quarter. Verition Fund Management LLC bought a new stake in FirstCash during the 1st quarter worth about $731,000. Earnest Partners LLC lifted its position in FirstCash by 18.9% during the 1st quarter. Earnest Partners LLC now owns 1,643,543 shares of the credit services provider’s stock worth $133,538,000 after buying an additional 261,499 shares in the last quarter. Jane Street Group LLC bought a new stake in FirstCash during the 1st quarter worth about $229,000. Finally, Barclays PLC lifted its position in FirstCash by 73.0% during the 1st quarter. Barclays PLC now owns 29,504 shares of the credit services provider’s stock worth $2,398,000 after buying an additional 12,448 shares in the last quarter. 95.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Mikel D. Faulkner acquired 1,700 shares of the stock in a transaction dated Tuesday, May 1st. The shares were bought at an average cost of $85.89 per share, for a total transaction of $146,013.00. Following the purchase, the director now directly owns 5,005 shares of the company’s stock, valued at $429,879.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by insiders.
Several brokerages have commented on FCFS. Zacks Investment Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group cut shares of FirstCash from an “outperform” rating to a “neutral” rating in a research report on Friday, June 1st. Jefferies Financial Group boosted their price target on shares of FirstCash to $103.00 and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Wedbush lowered shares of FirstCash from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $87.00 to $90.00 in a research note on Monday, May 7th. Finally, ValuEngine upgraded shares of FirstCash from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $86.00.
FirstCash stock opened at $91.35 on Thursday. The stock has a market cap of $4.15 billion, a PE ratio of 30.76, a PEG ratio of 1.30 and a beta of 0.60. FirstCash Inc has a fifty-two week low of $56.40 and a fifty-two week high of $95.40. The company has a current ratio of 5.62, a quick ratio of 3.76 and a debt-to-equity ratio of 0.21.
FirstCash (NYSE:FCFS) last released its quarterly earnings data on Thursday, April 26th. The credit services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.15. The company had revenue of $449.80 million for the quarter, compared to analyst estimates of $447.09 million. FirstCash had a net margin of 8.58% and a return on equity of 9.56%. FirstCash’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. research analysts expect that FirstCash Inc will post 3.49 EPS for the current fiscal year.
FirstCash declared that its Board of Directors has approved a share buyback plan on Thursday, April 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the credit services provider to reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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