Short Interest in FirstCash Holdings, Inc. (NASDAQ:FCFS) Rises By 21.0%

FirstCash Holdings, Inc. (NASDAQ:FCFS) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 594,289 shares, a growth of 21.0% from the December 31st total of 491,220 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average daily trading volume, of 270,539 shares, the short-interest ratio is presently 2.2 days. Based on an average daily trading volume, of 270,539 shares, the short-interest ratio is presently 2.2 days. Currently, 1.6% of the company’s shares are short sold.

FirstCash Trading Up 0.5%

FCFS opened at $171.92 on Thursday. FirstCash has a 52 week low of $109.51 and a 52 week high of $174.51. The company has a quick ratio of 3.72, a current ratio of 4.99 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $164.08 and a 200-day simple moving average of $153.54. The firm has a market cap of $7.59 billion, a P/E ratio of 24.81 and a beta of 0.49.

FirstCash declared that its board has approved a stock buyback plan on Thursday, October 30th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 2.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. Zacks Research downgraded FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $205.00 price target on shares of FirstCash in a research note on Monday, December 8th. TD Cowen reiterated a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of FirstCash in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.00.

Insider Buying and Selling

In related news, CFO R Douglas Orr sold 2,500 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $158.45, for a total transaction of $396,125.00. Following the completion of the sale, the chief financial officer directly owned 38,234 shares in the company, valued at approximately $6,058,177.30. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randel G. Owen sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $152.20, for a total transaction of $228,300.00. Following the completion of the transaction, the director owned 7,651 shares in the company, valued at $1,164,482.20. The trade was a 16.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,000 shares of company stock worth $6,481,395 over the last quarter. Corporate insiders own 2.93% of the company’s stock.

Institutional Investors Weigh In On FirstCash

Several large investors have recently added to or reduced their stakes in FCFS. Caitong International Asset Management Co. Ltd acquired a new position in shares of FirstCash in the second quarter worth $25,000. Root Financial Partners LLC purchased a new position in FirstCash in the third quarter valued at $25,000. Rothschild Investment LLC boosted its holdings in FirstCash by 127.8% in the third quarter. Rothschild Investment LLC now owns 180 shares of the company’s stock valued at $29,000 after purchasing an additional 101 shares during the period. Community Bank N.A. acquired a new position in FirstCash during the 3rd quarter worth $32,000. Finally, High Point Wealth Management LLC purchased a new stake in FirstCash during the 4th quarter worth about $33,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.