Coastal Bridge Advisors LLC Invests $2.11 Million in FirstCash Holdings, Inc. $FCFS

Coastal Bridge Advisors LLC acquired a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 9,748 shares of the company’s stock, valued at approximately $2,109,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new position in FirstCash in the second quarter valued at $1,088,429,000. Price T Rowe Associates Inc. MD lifted its stake in FirstCash by 36.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,169,281 shares of the company’s stock worth $186,361,000 after purchasing an additional 312,132 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of FirstCash in the 2nd quarter worth about $248,059,000. Geode Capital Management LLC boosted its holdings in shares of FirstCash by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 1,043,699 shares of the company’s stock worth $166,367,000 after purchasing an additional 31,550 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of FirstCash by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,009,170 shares of the company’s stock valued at $160,850,000 after purchasing an additional 5,626 shares during the last quarter. 80.30% of the stock is owned by institutional investors.

FirstCash Stock Performance

NASDAQ:FCFS opened at $224.07 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. FirstCash Holdings, Inc. has a fifty-two week low of $144.56 and a fifty-two week high of $238.93. The firm has a market cap of $9.72 billion, a PE ratio of 25.58 and a beta of 0.53. The business has a 50 day moving average price of $214.37 and a 200-day moving average price of $208.62.

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

FirstCash Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 14th. FirstCash’s dividend payout ratio is 19.18%.

Insider Activity

In related news, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the transaction, the chief financial officer owned 34,734 shares in the company, valued at $7,502,544. The trade was a 5.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard F. Hambleton sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total value of $425,960.00. Following the transaction, the insider owned 30,406 shares in the company, valued at approximately $6,475,869.88. This represents a 6.17% decrease in their position. 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. In the last three months, insiders sold 17,183 shares of company stock valued at $3,761,228. 2.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.