Elevation Point Wealth Partners LLC Purchases Shares of 3,462 FirstCash Holdings, Inc. $FCFS

Elevation Point Wealth Partners LLC bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,462 shares of the company’s stock, valued at approximately $651,000.

Several other hedge funds have also recently added to or reduced their stakes in FCFS. Harbor Investment Advisory LLC bought a new position in FirstCash during the first quarter worth $26,000. CIBC Private Wealth Group LLC boosted its position in FirstCash by 490.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company’s stock valued at $31,000 after acquiring an additional 162 shares during the last quarter. Community Bank N.A. bought a new stake in FirstCash during the third quarter valued at $32,000. High Point Wealth Management LLC acquired a new stake in FirstCash during the 4th quarter worth about $33,000. Finally, Root Financial Partners LLC grew its holdings in FirstCash by 29.6% during the 1st quarter. Root Financial Partners LLC now owns 245 shares of the company’s stock worth $46,000 after acquiring an additional 56 shares during the period. Institutional investors own 80.30% of the company’s stock.

Insiders Place Their Bets

In other FirstCash news, insider Howard F. Hambleton sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $226.41, for a total transaction of $679,230.00. Following the sale, the insider directly owned 32,406 shares of the company’s stock, valued at $7,337,042.46. This represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO R Douglas Orr sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $227.29, for a total transaction of $454,580.00. Following the sale, the chief financial officer owned 35,734 shares in the company, valued at $8,121,980.86. The trade was a 5.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 27,500 shares of company stock valued at $6,243,104. Company insiders own 2.86% of the company’s stock.

FirstCash Stock Down 0.5%

FCFS stock opened at $223.25 on Wednesday. The firm has a market capitalization of $9.79 billion, a PE ratio of 27.98 and a beta of 0.53. The company has a quick ratio of 3.42, a current ratio of 4.77 and a debt-to-equity ratio of 0.98. FirstCash Holdings, Inc. has a twelve month low of $119.21 and a twelve month high of $235.97. The stock’s 50 day moving average is $222.80 and its 200-day moving average is $196.74.

FirstCash (NASDAQ:FCFS) last released its quarterly earnings results on Thursday, April 23rd. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.39. FirstCash had a net margin of 9.15% and a return on equity of 18.68%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the firm earned $2.07 earnings per share. The firm’s revenue was up 25.7% on a year-over-year basis. Sell-side analysts expect that FirstCash Holdings, Inc. will post 11.3 EPS for the current fiscal year.

FirstCash Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 15th. FirstCash’s dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FCFS. Zacks Research cut FirstCash from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen lowered FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Weiss Ratings cut FirstCash from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, April 27th. Canaccord Genuity Group raised their price objective on shares of FirstCash from $242.00 to $252.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, TD Cowen lifted their price objective on shares of FirstCash from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $199.25.

FirstCash Company Profile

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.