FirstCash Holdings, Inc. $FCFS Shares Purchased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,422 shares of the company’s stock after buying an additional 3,339 shares during the quarter. King Luther Capital Management Corp owned 0.25% of FirstCash worth $22,902,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in FCFS. Geneos Wealth Management Inc. acquired a new stake in shares of FirstCash during the first quarter worth $29,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in FirstCash in the 2nd quarter valued at $34,000. Assetmark Inc. lifted its position in FirstCash by 113.2% in the 1st quarter. Assetmark Inc. now owns 194 shares of the company’s stock valued at $36,000 after acquiring an additional 103 shares in the last quarter. USA Financial Formulas bought a new position in FirstCash during the 3rd quarter worth about $50,000. Finally, Jacobi Capital Management LLC bought a new position in FirstCash during the 3rd quarter worth about $50,000. Institutional investors own 80.30% of the company’s stock.

Insider Buying and Selling at FirstCash

In other news, CFO R. Orr sold 2,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $216.00, for a total transaction of $432,000.00. Following the completion of the transaction, the chief financial officer directly owned 34,734 shares in the company, valued at $7,502,544. This represents a 5.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard Hambleton sold 2,000 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $212.98, for a total transaction of $425,960.00. Following the transaction, the insider owned 30,406 shares of the company’s stock, valued at approximately $6,475,869.88. This represents a 6.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,098 shares of company stock valued at $3,051,281. Corporate insiders own 2.86% of the company’s stock.

FirstCash Stock Performance

Shares of FCFS stock opened at $181.68 on Friday. The company’s fifty day simple moving average is $207.16 and its 200-day simple moving average is $206.71. The company has a quick ratio of 3.42, a current ratio of 4.81 and a debt-to-equity ratio of 1.08. The firm has a market cap of $7.79 billion, a PE ratio of 19.68 and a beta of 0.59. FirstCash Holdings, Inc. has a 12 month low of $146.95 and a 12 month high of $238.93.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, October 22nd. The company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.63 by $0.05. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.07 billion. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.86 earnings per share. Equities research analysts expect that FirstCash Holdings, Inc. will post 11.03 EPS for the current fiscal year.

FirstCash announced that its board has initiated a stock repurchase program on Wednesday, October 28th that authorizes the company to buy back $200 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.4% of its shares through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

FirstCash Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Friday, November 13th will be given a dividend of $0.46 per share. This is a boost from FirstCash’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.84 annualized dividend and a yield of 1.0%. FirstCash’s payout ratio is presently 18.20%.

Analyst Ratings Changes

FCFS has been the topic of several recent research reports. Stephens reissued an “overweight” rating and issued a $250.00 price target on shares of FirstCash in a research note on Thursday, October 1st. Canaccord Genuity Group reduced their price objective on FirstCash from $265.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and set a $255.00 price objective for the company in a research report on Monday, August 10th. Weiss Ratings downgraded FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Finally, Wall Street Zen lowered FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

FirstCash Company Profile

FirstCash Holdings, Inc. operates pawn stores that provide short-term, non-recourse loans secured by personal property and sell previously owned merchandise. Its stores also purchase items from customers, including jewelry, electronics, tools and other goods. The company serves customers in the United States and Latin America, including Mexico, Guatemala, El Salvador and Colombia. Its retail operations offer a range of pre-owned goods, with jewelry among its key product categories. FirstCash was formed in 2016 through the merger of First Cash Financial Services and Cash America International.