FirstCash Holdings, Inc. $FCFS Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) by 94.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,453 shares of the company’s stock after selling 22,752 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in FirstCash were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Legal & General Group Plc acquired a new position in FirstCash during the second quarter worth $12,616,000. BlackRock Inc. bought a new position in FirstCash in the second quarter valued at $1,088,429,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in FirstCash in the 2nd quarter valued at $8,025,472. California State Teachers Retirement System increased its stake in FirstCash by 19.8% in the 1st quarter. California State Teachers Retirement System now owns 45,148 shares of the company’s stock valued at $8,488,000 after buying an additional 7,475 shares during the last quarter. Finally, Wellington Grp LLC increased its stake in FirstCash by 43,752.4% in the 1st quarter. Wellington Grp LLC now owns 9,209 shares of the company’s stock valued at $1,731,000 after buying an additional 9,188 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FCFS. Wall Street Zen cut shares of FirstCash from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings cut FirstCash from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday. Canaccord Genuity Group lowered their target price on FirstCash from $265.00 to $250.00 and set a “buy” rating on the stock in a research report on Friday. TD Cowen dropped their target price on FirstCash from $242.00 to $235.00 and set a “buy” rating on the stock in a report on Friday. Finally, Stephens reiterated an “overweight” rating and set a $250.00 target price on shares of FirstCash in a report on Thursday, October 1st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $247.50.

FirstCash Price Performance

NASDAQ:FCFS opened at $175.27 on Tuesday. FirstCash Holdings, Inc. has a 1-year low of $146.77 and a 1-year high of $238.93. The company has a current ratio of 4.81, a quick ratio of 3.42 and a debt-to-equity ratio of 1.08. The firm has a fifty day simple moving average of $215.46 and a 200 day simple moving average of $205.46. The stock has a market capitalization of $7.60 billion, a PE ratio of 18.99 and a beta of 0.55.

FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, October 22nd. The company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.05. FirstCash had a net margin of 9.48% and a return on equity of 20.17%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company earned $1.86 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, research analysts expect that FirstCash Holdings, Inc. will post 11.59 EPS for the current fiscal year.

FirstCash Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Friday, November 13th will be given a $0.46 dividend. This is a boost from FirstCash’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.0%. FirstCash’s payout ratio is 18.20%.

Insider Activity

In other news, insider Howard Hambleton sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total transaction of $425,960.00. Following the transaction, the insider directly owned 30,406 shares in the company, valued at $6,475,869.88. The trade was a 6.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R. Orr sold 2,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $216.00, for a total transaction of $432,000.00. Following the transaction, the chief financial officer owned 34,734 shares in the company, valued at $7,502,544. This represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 14,098 shares of company stock worth $3,051,281. Insiders own 2.86% of the company’s stock.

About FirstCash

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.