Goldman Sachs Group Inc. lowered its position in shares of FirstCash Inc (NASDAQ:FCFS) by 21.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,481 shares of the credit services provider’s stock after selling 28,753 shares during the period. Goldman Sachs Group Inc. owned 0.21% of FirstCash worth $5,037,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tyers Asset Management LLC increased its position in FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock worth $117,000 after buying an additional 308 shares during the period. Flinton Capital Management LLC boosted its stake in FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock worth $142,000 after buying an additional 374 shares in the last quarter. Newfoundland Capital Management purchased a new stake in FirstCash during the first quarter worth $201,000. BlueCrest Capital Management Ltd purchased a new stake in FirstCash during the first quarter worth $202,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in FirstCash during the first quarter worth $202,000.
FirstCash Inc (NASDAQ:FCFS) opened at 57.85 on Friday. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75. The firm has a 50-day moving average of $57.67 and a 200-day moving average of $50.42. The firm has a market cap of $2.79 billion, a PE ratio of 31.32 and a beta of 0.90.
FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. FirstCash had a return on equity of 8.92% and a net margin of 7.29%. The company had revenue of $416.60 million for the quarter, compared to analyst estimates of $410.65 million. During the same period in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 128.9% compared to the same quarter last year. Equities analysts anticipate that FirstCash Inc will post $2.66 EPS for the current year.
FirstCash announced that its Board of Directors has approved a share buyback program on Monday, May 15th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the credit services provider to buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.76 annualized dividend and a dividend yield of 1.31%. FirstCash’s dividend payout ratio (DPR) is presently 25.38%.
A number of research firms recently commented on FCFS. Zacks Investment Research upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a research note on Friday, April 7th. Jefferies Group LLC restated a “buy” rating and set a $60.00 price objective on shares of FirstCash in a research note on Friday, April 7th. TheStreet upgraded shares of FirstCash from a “c+” rating to a “b” rating in a research note on Monday, April 17th. Wedbush lifted their target price on shares of FirstCash from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, May 24th. Finally, Stephens lifted their target price on shares of FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a report on Wednesday, June 21st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. FirstCash currently has a consensus rating of “Buy” and a consensus price target of $57.86.
In other news, CFO R Douglas Orr sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $55.00, for a total transaction of $412,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
FirstCash Company Profile
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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