King Luther Capital Management Corp Raises Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

King Luther Capital Management Corp lifted its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 17.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,176 shares of the company’s stock after acquiring an additional 4,399 shares during the quarter. King Luther Capital Management Corp owned 0.07% of FirstCash worth $3,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FirstCash during the 2nd quarter worth about $54,000. CWM LLC grew its position in shares of FirstCash by 157.5% during the third quarter. CWM LLC now owns 569 shares of the company’s stock worth $65,000 after buying an additional 348 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of FirstCash by 28.9% during the third quarter. GAMMA Investing LLC now owns 900 shares of the company’s stock worth $103,000 after buying an additional 202 shares during the period. Quarry LP raised its holdings in FirstCash by 511.1% in the second quarter. Quarry LP now owns 1,100 shares of the company’s stock valued at $115,000 after acquiring an additional 920 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in FirstCash by 220.3% in the first quarter. Lazard Asset Management LLC now owns 977 shares of the company’s stock worth $124,000 after acquiring an additional 672 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.

FirstCash Stock Performance

Shares of FirstCash stock opened at $104.40 on Friday. The company has a quick ratio of 3.23, a current ratio of 4.31 and a debt-to-equity ratio of 0.87. FirstCash Holdings, Inc. has a 52 week low of $101.62 and a 52 week high of $133.64. The firm’s 50 day moving average is $110.80 and its two-hundred day moving average is $112.30. The firm has a market capitalization of $4.67 billion, a P/E ratio of 19.33 and a beta of 0.64.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, October 24th. The company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.05. FirstCash had a net margin of 7.29% and a return on equity of 14.97%. The firm had revenue of $837.30 million for the quarter, compared to the consensus estimate of $843.94 million. During the same period last year, the firm posted $1.56 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Research analysts forecast that FirstCash Holdings, Inc. will post 6.61 EPS for the current fiscal year.

FirstCash Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, November 15th. FirstCash’s dividend payout ratio (DPR) is currently 28.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FCFS shares. TD Cowen dropped their price objective on shares of FirstCash from $134.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Stephens began coverage on FirstCash in a report on Wednesday, November 13th. They issued an “overweight” rating and a $137.00 target price on the stock.

Insider Activity

In other news, Director Douglas Richard Rippel sold 600 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $120.07, for a total value of $72,042.00. Following the completion of the sale, the director now directly owns 4,735,243 shares of the company’s stock, valued at approximately $568,560,627.01. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $105.68, for a total transaction of $211,360.00. Following the sale, the chief financial officer now owns 88,715 shares of the company’s stock, valued at $9,375,401.20. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,154 shares of company stock valued at $1,909,562. Insiders own 14.77% of the company’s stock.

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.