FirstCash Holdings, Inc. $FCFS Stock Sold by Pullen Investment Management LLC

Pullen Investment Management LLC decreased its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 36.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,127 shares of the company’s stock after selling 7,379 shares during the quarter. FirstCash makes up about 1.3% of Pullen Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Pullen Investment Management LLC’s holdings in FirstCash were worth $2,773,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Sigma Planning Corp raised its holdings in shares of FirstCash by 73.8% in the third quarter. Sigma Planning Corp now owns 8,184 shares of the company’s stock valued at $1,729,000 after buying an additional 3,475 shares during the last quarter. Sterling Capital Management LLC increased its position in FirstCash by 827.6% in the 3rd quarter. Sterling Capital Management LLC now owns 1,345 shares of the company’s stock valued at $284,000 after acquiring an additional 1,200 shares in the last quarter. Inspire Investing LLC increased its position in FirstCash by 10.2% in the 3rd quarter. Inspire Investing LLC now owns 2,359 shares of the company’s stock valued at $498,000 after acquiring an additional 218 shares in the last quarter. Root Financial Partners LLC acquired a new stake in FirstCash in the 3rd quarter valued at about $57,000. Finally, Crossmark Global Holdings Inc. raised its stake in shares of FirstCash by 11.6% in the third quarter. Crossmark Global Holdings Inc. now owns 1,996 shares of the company’s stock worth $422,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 80.30% of the company’s stock.

Key Headlines Impacting FirstCash

Here are the key news stories impacting FirstCash this week:

• Positive Sentiment: Record earnings and revenue: Third-quarter revenue increased 17.7% year over year to $1.10 billion, while adjusted EPS of $2.68 exceeded the $2.63 consensus estimate. GAAP net income rose 22% to $101.2 million, and adjusted EBITDA increased 18% to $213.0 million. FirstCash third-quarter results
• Positive Sentiment: Pawn operations remain strong: Revenue and segment income from the U.S., Latin American and U.K. pawn businesses each benefited from solid growth, with combined pawn revenue up 28%. Pawn receivables reached a record $908 million, while the company added 14 stores during the quarter and 42 year to date.
• Positive Sentiment: Shareholder returns increased: FirstCash raised its quarterly dividend 10% to $0.46 per share and repurchased $123 million of stock in the quarter, bringing year-to-date buybacks to $250 million.
• Positive Sentiment: Analyst remains bullish: TD Cowen reduced its price target from $242 to $235 but maintained a “Buy” rating, implying substantial potential upside based on the referenced price.
• Neutral Sentiment: Growth outlook is positive but mixed: Management expects continued double-digit growth in pawn operations and is pursuing the Ramsdens acquisition, which could add more than 175 U.K. locations. However, completion remains subject to antitrust approval and other closing conditions.
• Negative Sentiment: AFF remains a drag: Gross transaction volume in the retail POS payment-solutions segment fell 15% year over year, while net revenue declined 20%. Management expects fourth-quarter volume to decrease in the mid-teens percentage range and net revenue to fall 15%–20%, reflecting weakness in furniture and other discretionary retail.
• Negative Sentiment: Legal overhang: The Law Offices of Frank R. Cruz announced an investigation into potential securities-law violations related to company disclosures on October 22. The announcement does not establish wrongdoing, but it adds uncertainty and may weigh on sentiment. FirstCash securities investigation

FirstCash Stock Performance

NASDAQ:FCFS opened at $172.75 on Monday. FirstCash Holdings, Inc. has a 1-year low of $146.77 and a 1-year high of $238.93. The business’s 50-day moving average price is $216.47 and its two-hundred day moving average price is $216.19. The company has a current ratio of 4.81, a quick ratio of 3.42 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $7.49 billion, a price-to-earnings ratio of 18.72 and a beta of 0.55.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 22nd. The company reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.05. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.07 billion. FirstCash had a return on equity of 20.17% and a net margin of 9.48%. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. On average, equities analysts expect that FirstCash Holdings, Inc. will post 11.59 earnings per share for the current year.

FirstCash Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Friday, November 13th will be given a $0.46 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from FirstCash’s previous quarterly dividend of $0.42. FirstCash’s dividend payout ratio is 18.20%.

Analysts Set New Price Targets

Several research analysts have issued reports on FCFS shares. TD Cowen reduced their price objective on FirstCash from $242.00 to $235.00 and set a “buy” rating on the stock in a report on Friday. Canaccord Genuity Group lowered their target price on FirstCash from $265.00 to $250.00 and set a “buy” rating for the company in a research note on Friday. Wall Street Zen cut FirstCash from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. 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. Finally, Weiss Ratings downgraded FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $247.50.

Insider Activity

In related news, insider Howard Hambleton sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total transaction of $425,960.00. Following the completion of the transaction, the insider owned 30,406 shares in the company, valued at approximately $6,475,869.88. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were 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 of the company’s stock, valued at approximately $7,502,544. This represents a 5.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,098 shares of company stock worth $3,051,281 over the last quarter. 2.86% of the stock is owned by insiders.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.