Harbor Capital Advisors Inc. Has $1.20 Million Stock Position in FirstCash Holdings, Inc. $FCFS

Harbor Capital Advisors Inc. grew its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 4,434.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,573 shares of the company’s stock after purchasing an additional 7,406 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in FirstCash were worth $1,200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in FirstCash by 1.2% in the second quarter. Geode Capital Management LLC now owns 980,738 shares of the company’s stock valued at $132,552,000 after acquiring an additional 11,534 shares during the last quarter. Sei Investments Co. boosted its stake in shares of FirstCash by 10.1% in the 2nd quarter. Sei Investments Co. now owns 713,906 shares of the company’s stock valued at $96,477,000 after purchasing an additional 65,308 shares in the last quarter. Boston Partners grew its holdings in shares of FirstCash by 1.3% during the 2nd quarter. Boston Partners now owns 658,961 shares of the company’s stock valued at $88,871,000 after purchasing an additional 8,503 shares during the last quarter. Hood River Capital Management LLC increased its position in FirstCash by 42.6% during the 2nd quarter. Hood River Capital Management LLC now owns 611,045 shares of the company’s stock worth $82,577,000 after purchasing an additional 182,451 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in FirstCash by 9.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock valued at $46,866,000 after purchasing an additional 34,364 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Loop Capital lowered shares of FirstCash from a “buy” rating to a “hold” rating and set a $145.00 target price on the stock. in a research report on Friday, September 5th. Cowen reissued a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a report on Monday. TD Cowen lifted their price target on FirstCash from $181.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $205.00 price objective on shares of FirstCash in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $167.00.

Insider Buying and Selling at FirstCash

In other news, CEO Rick L. Wessel sold 20,000 shares of FirstCash stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $156.39, for a total value of $3,127,800.00. Following the completion of the transaction, the chief executive officer directly owned 866,982 shares of the company’s stock, valued at approximately $135,587,314.98. This trade represents a 2.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 value of $228,300.00. Following the completion of the transaction, the director directly owned 7,651 shares in the company, valued at $1,164,482.20. This represents a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 48,500 shares of company stock valued at $7,678,508 over the last three months. 2.93% of the stock is currently owned by corporate insiders.

FirstCash Trading Down 0.9%

NASDAQ FCFS opened at $160.96 on Friday. The firm has a market capitalization of $7.10 billion, a PE ratio of 23.23 and a beta of 0.53. The business’s 50-day moving average price is $158.26 and its two-hundred day moving average price is $146.74. The company has a current ratio of 4.99, a quick ratio of 3.72 and a debt-to-equity ratio of 1.01. FirstCash Holdings, Inc. has a 12 month low of $101.75 and a 12 month high of $166.08.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.35. FirstCash had a return on equity of 17.44% and a net margin of 8.88%.The company had revenue of $904.27 million during the quarter, compared to the consensus estimate of $845.28 million. During the same period last year, the company earned $1.67 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 14th were given a dividend of $0.42 per share. The ex-dividend date was Friday, November 14th. This represents a $1.68 annualized dividend and a dividend yield of 1.0%. FirstCash’s dividend payout ratio is 24.24%.

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

About FirstCash

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.