Philadelphia Financial Management of San Francisco LLC Takes $8.03 Billion Position in FirstCash Holdings, Inc. $FCFS

Philadelphia Financial Management of San Francisco LLC bought a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,100 shares of the company’s stock, valued at approximately $8,025,472,000. FirstCash comprises about 1.6% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 21st biggest position. Philadelphia Financial Management of San Francisco LLC owned approximately 0.09% of FirstCash as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FCFS. Harbor Investment Advisory LLC bought a new position in FirstCash during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in FirstCash in the first quarter worth $29,000. CIBC Private Wealth Group LLC raised its holdings in shares of FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of FirstCash during the 2nd quarter worth about $34,000. Finally, Assetmark Inc. boosted its position in shares of FirstCash by 113.2% during the 1st quarter. Assetmark Inc. now owns 194 shares of the company’s stock worth $36,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FCFS. TD Cowen increased their target price on FirstCash from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings downgraded FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Loop Capital upgraded shares of FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective for the company in a report on Monday, August 10th. Zacks Research lowered FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, FirstCash currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Activity

In other news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the transaction, the chief financial officer owned 34,734 shares of the company’s stock, valued at approximately $7,502,544. This represents a 5.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $225.23, for a total value of $1,539,447.05. Following the completion of the transaction, the senior vice president owned 20,400 shares of the company’s stock, valued at approximately $4,594,692. The trade was a 25.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 17,183 shares of company stock worth $3,761,228. 2.86% of the stock is currently owned by corporate insiders.

FirstCash Stock Performance

NASDAQ:FCFS opened at $219.82 on Thursday. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of 25.09 and a beta of 0.53. The business has a 50 day moving average of $214.43 and a 200 day moving average of $208.32. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. FirstCash Holdings, Inc. has a 1-year low of $144.56 and a 1-year high of $238.93.

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

FirstCash Dividend Announcement

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