Federated Hermes Inc. Raises Stock Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Federated Hermes Inc. lifted its holdings in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 37.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,925 shares of the company’s stock after purchasing an additional 1,064 shares during the quarter. Federated Hermes Inc.’s holdings in FirstCash were worth $412,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in FirstCash in the 1st quarter valued at approximately $26,000. Whittier Trust Co. boosted its holdings in FirstCash by 62.2% in the first quarter. Whittier Trust Co. now owns 459 shares of the company’s stock valued at $59,000 after purchasing an additional 176 shares during the period. EntryPoint Capital LLC grew its stake in FirstCash by 134.3% during the 1st quarter. EntryPoint Capital LLC now owns 841 shares of the company’s stock worth $107,000 after purchasing an additional 482 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in FirstCash during the 4th quarter worth about $108,000. Finally, Lazard Asset Management LLC raised its position in FirstCash by 220.3% in the 1st quarter. Lazard Asset Management LLC now owns 977 shares of the company’s stock valued at $124,000 after purchasing an additional 672 shares in the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

FirstCash Trading Up 0.6 %

FCFS opened at $118.02 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.04 and a current ratio of 4.03. FirstCash Holdings, Inc. has a one year low of $95.00 and a one year high of $133.64. The company has a market cap of $5.37 billion, a P/E ratio of 23.01 and a beta of 0.62. The business’s 50-day simple moving average is $115.10 and its 200-day simple moving average is $116.27.

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

FirstCash Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a $0.38 dividend. The ex-dividend date 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 yield of 1.29%. FirstCash’s payout ratio is 29.63%.

Insider Buying and Selling at FirstCash

In other news, Director Douglas Richard Rippel sold 2,864 shares of FirstCash stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $120.01, for a total transaction of $343,708.64. Following the sale, the director now owns 4,743,159 shares in the company, valued at $569,226,511.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Douglas Richard Rippel sold 2,864 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $120.01, for a total transaction of $343,708.64. Following the transaction, the director now directly owns 4,743,159 shares in the company, valued at $569,226,511.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO R Douglas Orr sold 2,000 shares of FirstCash stock in a transaction 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 in the company, valued at $9,722,833.70. The disclosure for this sale can be found here. Insiders sold 16,154 shares of company stock worth $1,912,562 over the last 90 days. Corporate insiders own 14.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, BTIG Research assumed coverage on FirstCash in a research report on Friday, June 7th. They set a “neutral” rating for the company. One 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, the company presently has an average rating of “Moderate Buy” and an average price target of $142.00.

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.