Pinebridge Investments L.P. boosted its stake in FirstCash Inc (NYSE:FCFS) by 188.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,199 shares of the credit services provider’s stock after buying an additional 19,068 shares during the period. Pinebridge Investments L.P. owned 0.07% of FirstCash worth $2,920,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of FCFS. Geode Capital Management LLC lifted its holdings in FirstCash by 11.7% in the fourth quarter. Geode Capital Management LLC now owns 495,495 shares of the credit services provider’s stock worth $35,848,000 after buying an additional 51,800 shares during the period. Bank of Montreal Can lifted its holdings in shares of FirstCash by 1.8% during 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. Rhumbline Advisers lifted its holdings in shares of FirstCash by 0.5% during the first quarter. Rhumbline Advisers now owns 129,608 shares of the credit services provider’s stock valued at $11,211,000 after purchasing an additional 661 shares during the last quarter. Comerica Bank lifted its holdings in shares of FirstCash by 1.3% during the first quarter. Comerica Bank now owns 43,333 shares of the credit services provider’s stock valued at $3,909,000 after purchasing an additional 541 shares during the last quarter. Finally, Mason Street Advisors LLC lifted its holdings in shares of FirstCash by 2.8% during the first quarter. Mason Street Advisors LLC now owns 13,991 shares of the credit services provider’s stock valued at $1,210,000 after purchasing an additional 379 shares during the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.
NYSE FCFS traded up $0.31 during mid-day trading on Friday, reaching $98.03. The stock had a trading volume of 145,866 shares, compared to its average volume of 200,894. FirstCash Inc has a 1 year low of $66.28 and a 1 year high of $106.80. The company has a fifty day moving average price of $99.53 and a 200 day moving average price of $95.57.
FirstCash (NYSE:FCFS) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $446.00 million during the quarter, compared to analysts’ expectations of $435.50 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. FirstCash’s revenue was up 6.2% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%.
In related news, CFO R Douglas Orr sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 in the company, valued at approximately $13,747,050. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James H. Graves sold 3,597 shares of FirstCash stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $99.33, for a total transaction of $357,290.01. Following the completion of the sale, the director now directly owns 21,272 shares of the company’s stock, valued at approximately $2,112,947.76. The disclosure for this sale can be found here. 2.83% of the stock is owned by insiders.
FCFS has been the subject of several recent research reports. Barclays lowered shares of FirstCash from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Jefferies Financial Group lifted their target price on shares of FirstCash from $107.00 to $115.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Zacks Investment Research upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a report 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 presently has a consensus rating of “Hold” and an average target price 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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