Earnest Partners LLC grew its stake in FirstCash Inc (NYSE:FCFS) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,843,693 shares of the credit services provider’s stock after purchasing an additional 5,479 shares during the period. FirstCash comprises about 1.7% of Earnest Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Earnest Partners LLC’s holdings in FirstCash were worth $184,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its position in FirstCash by 8.4% in the 2nd quarter. BlackRock Inc. now owns 6,912,083 shares of the credit services provider’s stock worth $691,346,000 after purchasing an additional 538,136 shares during the last quarter. US Bancorp DE grew its position in FirstCash by 14.7% in the 2nd quarter. US Bancorp DE now owns 2,072 shares of the credit services provider’s stock worth $208,000 after purchasing an additional 265 shares during the last quarter. ETRADE Capital Management LLC grew its position in FirstCash by 3.9% in the 2nd quarter. ETRADE Capital Management LLC now owns 14,346 shares of the credit services provider’s stock worth $1,435,000 after purchasing an additional 534 shares during the last quarter. Pinebridge Investments L.P. grew its position in FirstCash by 188.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 29,199 shares of the credit services provider’s stock worth $2,920,000 after purchasing an additional 19,068 shares during the last quarter. Finally, Castleark Management LLC grew its position in FirstCash by 15.7% in the 2nd quarter. Castleark Management LLC now owns 126,711 shares of the credit services provider’s stock worth $12,674,000 after purchasing an additional 17,155 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.
NYSE:FCFS opened at $97.72 on Friday. The company has a 50-day moving average of $99.70 and a 200-day moving average of $95.53. FirstCash Inc has a 52 week low of $66.28 and a 52 week high of $106.80.
FirstCash (NYSE:FCFS) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $446.00 million for the quarter, compared to the consensus estimate of $435.50 million. FirstCash’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share.
The firm 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 $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 14th.
In related news, CFO R Douglas Orr sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $101.83, for a total transaction of $254,575.00. Following the completion of the transaction, the chief financial officer now owns 135,000 shares in the company, valued at $13,747,050. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James H. Graves sold 3,597 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $99.33, for a total transaction of $357,290.01. Following the transaction, the director now owns 21,272 shares of the company’s stock, valued at approximately $2,112,947.76. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.
FCFS has been the topic of several research analyst reports. Barclays lowered shares of FirstCash from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of FirstCash from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Jefferies Financial Group raised their price objective on shares of FirstCash from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.00.
FirstCash, Inc operates retail-based pawn and consumer finance stores in the United States and Mexico. Its pawn stores lend money on the collateral of pledged personal property, including consumer electronics, jewelry, power tools, household appliances, sporting goods, and musical instruments; and retails previously owned merchandise acquired through pawn forfeitures, as well as through purchases from the general public.
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