PVG Asset Management Corp Raises Stock Holdings in FirstCash Holdings, Inc. $FCFS

PVG Asset Management Corp boosted its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 514.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,019 shares of the company’s stock after purchasing an additional 9,226 shares during the quarter. FirstCash makes up 1.5% of PVG Asset Management Corp’s portfolio, making the stock its 21st biggest position. PVG Asset Management Corp’s holdings in FirstCash were worth $2,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new stake in shares of FirstCash in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new position in FirstCash during the 1st quarter valued at about $29,000. CIBC Private Wealth Group LLC lifted its position in FirstCash by 490.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after acquiring an additional 162 shares during the period. High Point Wealth Management LLC bought a new position in shares of FirstCash during the fourth quarter valued at approximately $33,000. Finally, Assetmark Inc. lifted its holdings in shares of FirstCash by 113.2% during the first quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after purchasing an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Insider Activity at FirstCash

In related news, SVP Raul Ramos sold 6,835 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $225.23, for a total transaction of $1,539,447.05. Following the transaction, the senior vice president owned 20,400 shares in the company, valued at $4,594,692. This represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Howard F. Hambleton sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $226.41, for a total transaction of $679,230.00. Following the completion of the sale, the insider owned 32,406 shares in the company, valued at $7,337,042.46. This represents a 8.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,000 shares of company stock valued at $5,917,004 over the last ninety days. Company insiders own 2.86% of the company’s stock.

Wall Street Analyst Weigh In

FCFS has been the subject of a number of analyst reports. Canaccord Genuity Group raised their price objective on FirstCash from $242.00 to $252.00 and gave the company a “buy” rating in a research report on Friday, April 24th. TD Cowen increased their target price on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, July 24th. Zacks Research lowered shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, FirstCash has a consensus rating of “Moderate Buy” and an average target price of $199.25.

FirstCash Stock Performance

Shares of FCFS opened at $204.01 on Monday. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 23.29 and a beta of 0.53. The business’s fifty day simple moving average is $217.36 and its two-hundred day simple moving average is $202.74. FirstCash Holdings, Inc. has a 12 month low of $128.90 and a 12 month high of $235.97. The company has a current ratio of 4.89, a quick ratio of 3.51 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.11. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.34 earnings per share. The company’s quarterly revenue was up 29.4% on a year-over-year basis. Research analysts anticipate that FirstCash Holdings, Inc. will post 11.85 earnings per share for the current fiscal year.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.42 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.8%. FirstCash’s payout ratio is currently 19.18%.

FirstCash 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.