Seven Eight Capital LP Takes Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Seven Eight Capital LP bought a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 17,940 shares of the company’s stock, valued at approximately $1,882,000.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of FirstCash in the 1st quarter worth $26,000. Principal Securities Inc. purchased a new position in FirstCash in the fourth quarter worth about $51,000. Whittier Trust Co. increased its stake in FirstCash by 62.2% during the first quarter. Whittier Trust Co. now owns 459 shares of the company’s stock worth $59,000 after acquiring an additional 176 shares during the last quarter. EntryPoint Capital LLC raised its position in FirstCash by 134.3% during the first quarter. EntryPoint Capital LLC now owns 841 shares of the company’s stock valued at $107,000 after purchasing an additional 482 shares during the period. Finally, Johnson Financial Group Inc. bought a new stake in shares of FirstCash in the 4th quarter valued at approximately $108,000. Institutional investors own 80.30% of the company’s stock.

FirstCash Stock Performance

FirstCash stock opened at $119.14 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.03 and a quick ratio of 3.04. The firm has a market capitalization of $5.42 billion, a P/E ratio of 23.22 and a beta of 0.62. FirstCash Holdings, Inc. has a 1-year low of $94.55 and a 1-year high of $133.64. The company’s 50-day moving average is $114.36 and its 200 day moving average is $116.19.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $831.00 million during the quarter, compared to analyst estimates of $824.87 million. FirstCash had a return on equity of 14.90% and a net margin of 7.17%. FirstCash’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. Research analysts forecast that FirstCash Holdings, Inc. will post 6.56 EPS for the current year.

FirstCash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost 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 dividend payout ratio is presently 29.63%.

Analysts Set New Price Targets

Separately, BTIG Research started coverage on FirstCash in a research report on Friday, June 7th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstCash presently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

Insider Buying and Selling

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

About FirstCash

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.