United Services Automobile Association lessened its position in shares of FirstCash Inc (NYSE:FCFS) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,064 shares of the credit services provider’s stock after selling 1,135 shares during the quarter. United Services Automobile Association’s holdings in FirstCash were worth $661,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its holdings in FirstCash by 170.1% during the 2nd quarter. First Trust Advisors LP now owns 58,487 shares of the credit services provider’s stock worth $5,255,000 after buying an additional 36,833 shares during the period. Sei Investments Co. lifted its holdings in FirstCash by 137.3% during the 2nd quarter. Sei Investments Co. now owns 18,821 shares of the credit services provider’s stock worth $1,691,000 after buying an additional 10,891 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in FirstCash by 1.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 292,157 shares of the credit services provider’s stock worth $26,251,000 after buying an additional 5,206 shares during the period. Stevens Capital Management LP acquired a new position in FirstCash during the 2nd quarter worth about $343,000. Finally, GSA Capital Partners LLP acquired a new position in FirstCash during the 2nd quarter worth about $925,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on FCFS shares. Wedbush raised FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a report on Friday, October 26th. ValuEngine lowered FirstCash from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research raised FirstCash from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Finally, Barclays initiated coverage on FirstCash in a report on Wednesday, September 26th. They issued an “overweight” rating and a $95.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $93.17.
Shares of NYSE:FCFS opened at $76.62 on Friday. FirstCash Inc has a 12-month low of $66.28 and a 12-month high of $95.40.
FirstCash (NYSE:FCFS) last announced its quarterly earnings data on Thursday, October 25th. The credit services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. The company had revenue of $429.88 million for the quarter, compared to the consensus estimate of $440.46 million.
FirstCash declared that its board has approved a stock repurchase program on Thursday, October 25th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the credit services provider to reacquire up to 2.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director James H. Graves sold 7,000 shares of the business’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $89.11, for a total transaction of $623,770.00. Following the completion of the sale, the director now owns 23,597 shares of the company’s stock, valued at approximately $2,102,728.67. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO R Douglas Orr sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $85.00, for a total transaction of $212,500.00. Following the completion of the transaction, the chief financial officer now owns 157,500 shares in the company, valued at $13,387,500. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by company insiders.
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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