FirstCash Inc (FCFS) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its holdings in FirstCash Inc (NYSE:FCFS) by 5,707.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,151 shares of the credit services provider’s stock after purchasing an additional 131,841 shares during the period. Summit Trail Advisors LLC owned approximately 0.30% of FirstCash worth $134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FCFS. Mason Street Advisors LLC increased its stake in shares of FirstCash by 5.2% in the first quarter. Mason Street Advisors LLC now owns 12,915 shares of the credit services provider’s stock worth $1,049,000 after acquiring an additional 642 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of FirstCash by 0.8% in the first quarter. Prudential Financial Inc. now owns 79,018 shares of the credit services provider’s stock worth $6,420,000 after acquiring an additional 660 shares during the last quarter. Connable Office Inc. increased its stake in shares of FirstCash by 22.4% in the first quarter. Connable Office Inc. now owns 5,882 shares of the credit services provider’s stock worth $478,000 after acquiring an additional 1,076 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of FirstCash by 20.3% in the first quarter. Xact Kapitalforvaltning AB now owns 6,516 shares of the credit services provider’s stock worth $529,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of FirstCash by 11.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 11,312 shares of the credit services provider’s stock worth $763,000 after acquiring an additional 1,119 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

FirstCash stock opened at $90.35 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.76 and a current ratio of 5.62. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.25 and a beta of 0.64. FirstCash Inc has a one year low of $56.40 and a one year high of $95.40.

FirstCash (NYSE:FCFS) last posted its earnings results on Thursday, April 26th. The credit services provider reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.15. The firm had revenue of $449.80 million for the quarter, compared to the consensus estimate of $447.09 million. FirstCash had a net margin of 8.58% and a return on equity of 9.56%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. sell-side analysts predict that FirstCash Inc will post 3.54 EPS for the current fiscal year.

FirstCash announced that its board has initiated a share buyback plan on Thursday, April 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to purchase up to 2.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 0.97%. The ex-dividend date was Monday, May 14th. FirstCash’s payout ratio is 32.12%.

In other FirstCash news, Director Mikel D. Faulkner bought 1,700 shares of the stock in a transaction on Tuesday, May 1st. The shares were purchased at an average cost of $85.89 per share, with a total value of $146,013.00. Following the completion of the transaction, the director now directly owns 5,005 shares of the company’s stock, valued at approximately $429,879.45. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.83% of the company’s stock.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of FirstCash from a “sell” rating to a “hold” rating and set a $97.00 price target on the stock in a research note on Monday, April 30th. Jefferies Financial Group upped their price target on shares of FirstCash to $103.00 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Wedbush downgraded shares of FirstCash from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $87.00 to $90.00 in a research note on Monday, May 7th. ValuEngine raised shares of FirstCash from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Credit Suisse Group downgraded shares of FirstCash from an “outperform” rating to a “neutral” rating in a research note on Friday, June 1st. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. FirstCash presently has a consensus rating of “Buy” and an average target price of $86.00.

FirstCash Profile

FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.

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Institutional Ownership by Quarter for FirstCash (NYSE:FCFS)

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