Great West Life Assurance Co. Can raised its stake in FirstCash Inc (NASDAQ:FCFS) by 3.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 70,489 shares of the credit services provider’s stock after buying an additional 2,370 shares during the period. Great West Life Assurance Co. Can owned approximately 0.15% of FirstCash worth $4,105,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tyers Asset Management LLC boosted its position in shares of FirstCash by 14.9% in the first quarter. Tyers Asset Management LLC now owns 2,380 shares of the credit services provider’s stock valued at $117,000 after buying an additional 308 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of FirstCash by 14.9% in the first quarter. Flinton Capital Management LLC now owns 2,890 shares of the credit services provider’s stock valued at $142,000 after buying an additional 374 shares during the last quarter. Strs Ohio boosted its position in shares of FirstCash by 100.0% in the second quarter. Strs Ohio now owns 3,800 shares of the credit services provider’s stock valued at $221,000 after buying an additional 1,900 shares during the last quarter. Newfoundland Capital Management acquired a new position in shares of FirstCash during the first quarter valued at about $201,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of FirstCash during the first quarter valued at about $202,000.
Shares of FirstCash Inc (NASDAQ FCFS) opened at 60.35 on Thursday. The firm’s 50 day moving average is $58.44 and its 200 day moving average is $51.55. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 32.67 and a beta of 0.90. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $60.75.
FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 27th. The credit services provider reported $0.52 EPS for the quarter, topping the Zacks’ 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 business had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. During the same period in the previous year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 128.9% on a year-over-year basis. Equities analysts expect that FirstCash Inc will post $2.66 earnings per share for the current year.
FirstCash declared that its Board of Directors has approved a share buyback program on Monday, May 15th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to purchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, August 11th. FirstCash’s dividend payout ratio is presently 25.38%.
Several research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Wednesday. JMP Securities increased their target price on shares of FirstCash and gave the stock an “outperform” rating in a report on Friday, July 28th. CL King cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. BidaskClub cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Janney Montgomery Scott cut shares of FirstCash from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $58.55 to $58.00 in a report on Monday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $58.14.
In other news, CFO R Douglas Orr sold 7,500 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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