Seven Eight Capital LP Makes New Investment in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Seven Eight Capital LP bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,940 shares of the company’s stock, valued at approximately $1,882,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in FirstCash during the first quarter valued at about $26,000. Principal Securities Inc. bought a new position in FirstCash in the fourth quarter worth about $51,000. Whittier Trust Co. lifted its position in shares of FirstCash by 62.2% during the first quarter. Whittier Trust Co. now owns 459 shares of the company’s stock valued at $59,000 after buying an additional 176 shares during the last quarter. EntryPoint Capital LLC boosted its holdings in shares of FirstCash by 134.3% in the 1st quarter. EntryPoint Capital LLC now owns 841 shares of the company’s stock valued at $107,000 after buying an additional 482 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of FirstCash in the 4th quarter worth approximately $108,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BTIG Research started coverage on shares of FirstCash in a research report on Friday, June 7th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $107.18, for a total transaction of $214,360.00. Following the sale, the chief financial officer now owns 90,715 shares in the company, valued at approximately $9,722,833.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $107.18, for a total transaction of $214,360.00. Following the completion of the transaction, the chief financial officer now directly owns 90,715 shares of the company’s stock, valued at approximately $9,722,833.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas Richard Rippel sold 3,374 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $119.94, for a total transaction of $404,677.56. Following the completion of the sale, the director now directly owns 4,731,869 shares in the company, valued at $567,540,367.86. The disclosure for this sale can be found here. Insiders sold 16,154 shares of company stock worth $1,912,562 in the last 90 days. Insiders own 14.77% of the company’s stock.

FirstCash Price Performance

Shares of NASDAQ FCFS opened at $119.14 on Thursday. FirstCash Holdings, Inc. has a fifty-two week low of $94.55 and a fifty-two week high of $133.64. The company has a market cap of $5.42 billion, a PE ratio of 23.22 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.04 and a current ratio of 4.03. The business has a 50-day simple moving average of $114.36 and a two-hundred day simple moving average of $116.19.

FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, July 25th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. FirstCash had a net margin of 7.17% and a return on equity of 14.90%. The company had revenue of $831.00 million during the quarter, compared to analysts’ expectations of $824.87 million. During the same period last year, the business earned $1.22 EPS. FirstCash’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities analysts expect that FirstCash Holdings, Inc. will post 6.56 EPS for the current fiscal year.

FirstCash Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from FirstCash’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.28%. FirstCash’s payout ratio is 29.63%.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.