Stephens Investment Management Group LLC Acquires 86,312 Shares of FirstCash Inc (NYSE:FCFS)

Stephens Investment Management Group LLC boosted its position in shares of FirstCash Inc (NYSE:FCFS) by 13.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 711,120 shares of the credit services provider’s stock after buying an additional 86,312 shares during the period. FirstCash accounts for about 1.3% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 11th largest holding. Stephens Investment Management Group LLC’s holdings in FirstCash were worth $71,126,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FCFS. FMR LLC lifted its holdings in FirstCash by 55.5% during the 1st quarter. FMR LLC now owns 2,719,587 shares of the credit services provider’s stock valued at $235,244,000 after purchasing an additional 970,130 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in FirstCash by 52.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 548,694 shares of the credit services provider’s stock valued at $47,462,000 after purchasing an additional 189,785 shares during the last quarter. Rathbone Brothers plc lifted its holdings in FirstCash by 91.9% during the 1st quarter. Rathbone Brothers plc now owns 259,000 shares of the credit services provider’s stock valued at $22,404,000 after purchasing an additional 124,000 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in FirstCash by 15.6% during the 1st quarter. Victory Capital Management Inc. now owns 801,893 shares of the credit services provider’s stock valued at $69,363,000 after purchasing an additional 108,425 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in FirstCash by 0.8% during the 1st quarter. BlackRock Inc. now owns 6,373,947 shares of the credit services provider’s stock valued at $551,346,000 after purchasing an additional 53,127 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO R Douglas Orr sold 2,500 shares of FirstCash 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 sale, the chief financial officer now owns 135,000 shares in the company, valued at approximately $13,747,050. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.83% of the stock is owned by insiders.

Shares of NYSE FCFS traded up $1.08 during trading on Thursday, reaching $98.83. The company had a trading volume of 1,267 shares, compared to its average volume of 205,458. FirstCash Inc has a 52 week low of $66.28 and a 52 week high of $106.80. The business’s 50 day moving average is $101.55.

FirstCash (NYSE:FCFS) last announced its earnings results on Wednesday, July 24th. The credit services provider reported $0.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.01. The company had revenue of $446.00 million during the quarter, compared to the consensus estimate of $435.50 million. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, August 14th.

A number of brokerages have weighed in on FCFS. Barclays downgraded shares of FirstCash from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research raised shares of FirstCash from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. JMP Securities boosted their target price on shares of FirstCash from $95.00 to $105.00 and gave the stock a “market outperform” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group boosted their target price on shares of FirstCash from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. FirstCash presently has an average rating of “Hold” and an average price target of $106.00.

FirstCash Profile

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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Institutional Ownership by Quarter for FirstCash (NYSE:FCFS)

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