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

King Luther Capital Management Corp grew its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,777 shares of the company’s stock after purchasing an additional 1,389 shares during the quarter. King Luther Capital Management Corp owned approximately 0.05% of FirstCash worth $2,599,000 at the end of the most recent quarter.

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

FirstCash Trading Down 1.5 %

NASDAQ:FCFS opened at $117.37 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 22.88 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.03 and a quick ratio of 3.04. FirstCash Holdings, Inc. has a one year low of $94.55 and a one year high of $133.64. The company’s 50-day simple moving average is $114.93 and its 200 day simple moving average is $116.24.

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

FirstCash Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.30%. This is an increase from FirstCash’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, August 15th. FirstCash’s dividend payout ratio is 29.63%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at FirstCash

In other news, Director Douglas Richard Rippel sold 7,316 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $119.98, for a total value of $877,773.68. Following the transaction, the director now owns 4,735,843 shares in the company, valued at $568,206,443.14. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $107.18, for a total value of $214,360.00. Following the completion of the transaction, the chief financial officer now owns 90,715 shares in the company, valued at $9,722,833.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Douglas Richard Rippel sold 7,316 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.98, for a total value of $877,773.68. Following the sale, the director now directly owns 4,735,843 shares in the company, valued at $568,206,443.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,154 shares of company stock worth $1,912,562. 14.77% of the stock is owned by corporate insiders.

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.