Sawgrass Asset Management LLC acquired a new stake in FirstCash Inc (NYSE:FCFS) in the second quarter, Holdings Channel reports. The institutional investor acquired 6,945 shares of the credit services provider’s stock, valued at approximately $695,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. increased its holdings in FirstCash by 1.2% in the first quarter. OppenheimerFunds Inc. now owns 11,636 shares of the credit services provider’s stock valued at $1,007,000 after purchasing an additional 137 shares during the last quarter. Bank of Montreal Can increased its holdings in FirstCash by 1.8% in the first quarter. Bank of Montreal Can now owns 9,516 shares of the credit services provider’s stock valued at $823,000 after purchasing an additional 170 shares during the last quarter. Connable Office Inc. increased its holdings in FirstCash by 3.4% in the first quarter. Connable Office Inc. now owns 6,031 shares of the credit services provider’s stock valued at $522,000 after purchasing an additional 201 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in FirstCash by 6.0% in the second quarter. Zions Bancorporation N.A. now owns 3,769 shares of the credit services provider’s stock valued at $377,000 after purchasing an additional 214 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in FirstCash by 1.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,275 shares of the credit services provider’s stock valued at $1,728,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.
In other FirstCash news, CFO R Douglas Orr sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $101.83, for a total value of $254,575.00. Following the completion of the transaction, the chief financial officer now directly owns 135,000 shares of the company’s stock, valued at $13,747,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.
NYSE:FCFS traded down $0.58 on Friday, reaching $100.02. The company’s stock had a trading volume of 166,542 shares, compared to its average volume of 209,676. FirstCash Inc has a 1-year low of $66.28 and a 1-year high of $106.80. The stock’s 50-day moving average price is $101.57.
FirstCash (NYSE:FCFS) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $446.00 million during the quarter, compared to analyst estimates of $435.50 million. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%.
A number of research firms recently commented on FCFS. JMP Securities upped their price objective on FirstCash from $95.00 to $105.00 and gave the company a “market outperform” rating in a report on Thursday, April 25th. Jefferies Financial Group boosted their target price on FirstCash from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Barclays cut FirstCash from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised FirstCash from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $106.00.
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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