Charles Schwab Increases Stake in FirstCash Holdings, Inc.

Charles Schwab Investment Management Inc. has raised its investment in FirstCash Holdings, Inc. (NASDAQ:FCFS – Free Report) by 8.2% in the third quarter, as noted in its latest filing with the Securities and Exchange Commission (SEC). The institution now holds a total of 498,260 shares of FirstCash after acquiring an additional 37,810 shares during this period. By the end of the third quarter, Charles Schwab owned approximately 1.11% of the company, which is valued at about $57,200,000.

Additionally, various hedge funds and institutional investors have been active in buying and selling shares of FirstCash recently. Lazard Asset Management LLC amplified its investment in FirstCash by 220.3% in the first quarter, bringing its total to 977 shares, worth $124,000 following the acquisition of 672 additional shares. Price T Rowe Associates Inc. MD increased its share count by 6.8% during the same timeframe, now owning 21,561 shares valued at $2,750,000 after adding 1,367 shares. Furthermore, Atria Investments Inc. acquired a new position in FirstCash valued at $1,189,000 in the first quarter, while Burney Co. upped its stake by 6.9%, now holding 4,846 shares worth $618,000 after purchasing an additional 312 shares. Lastly, Boston Partners raised its stake in the company by 17.8%, accumulating 621,534 shares valued at $78,347,000 after acquiring an additional 94,010 shares. Overall, institutional investors and hedge funds currently own 80.30% of FirstCash stock.

Insider Transactions

In related insider news, Chief Financial Officer R. Douglas Orr executed a sale of 2,000 shares of company stock on November 5th, receiving an average price of $105.68 per share, totaling $211,360. Following this sale, he retains ownership of 88,715 shares, valued at approximately $9,375,401.20, marking a 2.20% reduction in his holdings. This transaction was reported in a filing with the SEC. Moreover, Director Douglas Richard Rippel sold 3,374 shares on September 9th for an average price of $119.94, resulting in a transaction of $404,677.56. Post-sale, he owns 4,731,869 shares valued at approximately $567,540,367.86, which reflects a decrease of 0.07% in his position. Over the past three months, insiders have sold a total of 5,974 shares of FirstCash stock, valued at $688,080. Corporate insiders now hold 14.77% of the company's shares.

Analysts' Outlook

Several research analysts have weighed in on FirstCash stock. TD Cowen has downgraded their price target from $134.00 to $130.00 while maintaining a “buy” rating. On the other hand, Stephens issued an “overweight” rating and set a target price of $137.00 on November 13th.

Latest Financial Overview

FirstCash Stock Performance

As of Friday, shares of NASDAQ:FCFS opened at $108.86, reflecting a market cap of $4.87 billion. The company's price-to-earnings ratio stands at 20.16, with a beta of 0.64. Its 50-day simple moving average is $109.79, while the 200-day simple moving average is $111.92. FirstCash has a quick ratio of 3.23, a current ratio of 4.31, and a debt-to-equity ratio of 0.87. Over the past year, the company experienced a low share price of $101.62 and a high of $133.64.

FirstCash recently released its quarterly earnings on October 24th, reporting earnings of $1.67 per share, slightly surpassing the $1.62 consensus estimate. In terms of revenue, the company brought in $837.30 million for the quarter, compared to the consensus expectation of $843.94 million. FirstCash achieved a net margin of 7.29% and posted a return on equity of 14.97%. Notably, the quarterly revenue indicated a growth of 6.5% compared to the same period last year when the firm achieved earnings of $1.56 per share. Analysts predict that FirstCash Holdings, Inc. will report an earnings per share of 6.61 for the current year.

Dividend Announcement

In a recent announcement, FirstCash disclosed a quarterly dividend, which was paid out on November 27th. Shareholders on record as of November 15th received a dividend of $0.38 per share, translating to an annualized dividend of $1.52 and a yield of 1.40%. The ex-dividend date was also November 15th. Currently, FirstCash’s dividend payout ratio sits at 28.15%.

About FirstCash Holdings, Inc.

FirstCash Holdings, Inc. operates retail pawn stores across the United States, Mexico, and broader Latin America through its subsidiaries. The company is categorized into three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions. FirstCash's pawn stores provide loans secured by personal property, including items like jewelry, electronics, tools, and more, and also retail forfeited pawn merchandise.

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