New York State Teachers Retirement System decreased its position in FirstCash Inc (NYSE:FCFS) by 0.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,242 shares of the credit services provider’s stock after selling 129 shares during the quarter. New York State Teachers Retirement System owned approximately 0.26% of FirstCash worth $9,622,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of FCFS. PNC Financial Services Group Inc. increased its position in FirstCash by 6.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,304 shares of the credit services provider’s stock worth $311,000 after buying an additional 265 shares in the last quarter. Kepos Capital LP bought a new position in FirstCash during the fourth quarter valued at approximately $1,386,000. Texas Permanent School Fund boosted its stake in FirstCash by 3.1% during the first quarter. Texas Permanent School Fund now owns 29,580 shares of the credit services provider’s stock valued at $2,559,000 after buying an additional 897 shares during the last quarter. Parametrica Management Ltd bought a new position in FirstCash during the fourth quarter valued at approximately $537,000. Finally, Castleark Management LLC bought a new position in FirstCash during the fourth quarter valued at approximately $8,076,000. 95.30% of the stock is currently owned by institutional investors.
In other FirstCash news, CFO R Douglas Orr sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $96.94, for a total value of $727,050.00. Following the transaction, the chief financial officer now owns 142,500 shares in the company, valued at approximately $13,813,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.83% of the company’s stock.
FCFS traded up $1.14 during trading hours on Friday, reaching $98.96. The company’s stock had a trading volume of 137,641 shares, compared to its average volume of 207,755. FirstCash Inc has a fifty-two week low of $66.28 and a fifty-two week high of $100.50.
FirstCash (NYSE:FCFS) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.89 by $0.08. The business had revenue of $467.60 million during the quarter, compared to analysts’ expectations of $453.90 million. During the same period last year, the company earned $0.90 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%.
A number of equities analysts recently commented on the company. Jefferies Financial Group increased their price target on FirstCash from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Friday. Barclays reissued a “buy” rating and set a $110.00 price target on shares of FirstCash in a research note on Thursday, June 6th. JMP Securities increased their price target on FirstCash from $95.00 to $105.00 and gave the company a “market outperform” rating in a research note on Thursday, April 25th. Finally, Zacks Investment Research raised FirstCash from a “sell” rating to a “hold” rating and set a $110.00 price target for the company in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $106.00.
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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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