Sumitomo Life Insurance Co. purchased a new stake in shares of FirstCash Inc (NYSE:FCFS) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,068 shares of the credit services provider’s stock, valued at approximately $580,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCFS. Summit Trail Advisors LLC raised its stake in FirstCash by 5,707.4% during the first quarter. Summit Trail Advisors LLC now owns 134,151 shares of the credit services provider’s stock valued at $134,000 after buying an additional 131,841 shares during the last quarter. CAPROCK Group Inc. purchased a new position in FirstCash during the second quarter valued at $200,000. Acadian Asset Management LLC purchased a new position in FirstCash during the second quarter valued at $205,000. Jane Street Group LLC purchased a new position in FirstCash during the first quarter valued at $229,000. Finally, Granahan Investment Management Inc. MA purchased a new position in FirstCash during the second quarter valued at $252,000. Institutional investors own 95.30% of the company’s stock.
FCFS stock opened at $78.11 on Friday. FirstCash Inc has a 1-year low of $59.35 and a 1-year high of $95.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 6.48 and a quick ratio of 4.36. The firm has a market capitalization of $3.63 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.17 and a beta of 0.50.
FirstCash (NYSE:FCFS) last posted its quarterly earnings results on Thursday, July 26th. The credit services provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. FirstCash had a return on equity of 10.32% and a net margin of 9.40%. The firm had revenue of $419.97 million during the quarter, compared to analysts’ expectations of $424.01 million. During the same quarter in the previous year, the business earned $0.52 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, research analysts anticipate that FirstCash Inc will post 3.5 EPS for the current fiscal year.
FirstCash declared that its board has authorized a stock buyback program on Thursday, July 26th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the credit services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of research analysts have issued reports on FCFS shares. Zacks Investment Research cut FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. ValuEngine cut FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 5th. Finally, Barclays began coverage on FirstCash in a research note on Wednesday, September 26th. They issued an “overweight” rating and a $95.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. FirstCash presently has a consensus rating of “Hold” and a consensus target price of $93.17.
FirstCash Company Profile
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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