Elevation Point Wealth Partners LLC Takes $623,000 Position in FirstCash Holdings, Inc. $FCFS

Elevation Point Wealth Partners LLC purchased a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,878 shares of the company’s stock, valued at approximately $623,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FirstCash by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,946 shares of the company’s stock valued at $2,761,000 after acquiring an additional 1,021 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of FirstCash by 9.7% during the first quarter. Goldman Sachs Group Inc. now owns 389,509 shares of the company’s stock worth $46,866,000 after purchasing an additional 34,364 shares during the period. Jane Street Group LLC increased its holdings in FirstCash by 237.2% in the first quarter. Jane Street Group LLC now owns 62,057 shares of the company’s stock valued at $7,467,000 after purchasing an additional 43,653 shares during the last quarter. American Century Companies Inc. increased its holdings in FirstCash by 4.9% in the second quarter. American Century Companies Inc. now owns 14,187 shares of the company’s stock valued at $1,917,000 after purchasing an additional 666 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in FirstCash by 67.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 20,872 shares of the company’s stock valued at $2,821,000 after buying an additional 8,402 shares during the period. 80.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on FCFS. Zacks Research downgraded shares of FirstCash from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. 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. Weiss Ratings lowered shares of FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Wall Street Zen cut shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, TD Cowen upped their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

Insider Activity at FirstCash

In other FirstCash news, COO Thomas Brent Stuart sold 5,348 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the completion of the transaction, the chief operating officer owned 135,498 shares in the company, valued at approximately $29,081,935.74. This represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of FirstCash stock in a transaction dated 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 sale, the senior vice president directly owned 20,400 shares in the company, valued at $4,594,692. This represents a 25.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 20,348 shares of company stock valued at $4,492,755 in the last quarter. 2.86% of the stock is currently owned by company insiders.

FirstCash Price Performance

NASDAQ FCFS opened at $236.43 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 26.99 and a beta of 0.53. The business has a 50 day simple moving average of $214.33 and a 200 day simple moving average of $207.62. FirstCash Holdings, Inc. has a 52-week low of $144.40 and a 52-week high of $238.38.

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

FirstCash Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.68 dividend on an annualized basis and a yield of 0.7%. FirstCash’s dividend payout ratio is presently 19.18%.

FirstCash Company 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.