FirstCash Inc (NYSE:FCFS) CFO R Douglas Orr sold 2,500 shares of the firm’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 of the company’s stock, valued at $13,387,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of FCFS stock traded down $1.87 during trading on Friday, hitting $81.50. 6,849 shares of the company were exchanged, compared to its average volume of 284,501. FirstCash Inc has a twelve month low of $62.65 and a twelve month high of $95.40.
FirstCash (NYSE:FCFS) last issued its quarterly earnings data on Thursday, October 25th. The credit services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.01. The business had revenue of $429.88 million for the quarter, compared to the consensus estimate of $440.46 million.
FirstCash declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the credit services provider to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
A number of institutional investors and hedge funds have recently modified their holdings of FCFS. CAPROCK Group Inc. bought a new position in FirstCash during the second quarter valued at approximately $200,000. Acadian Asset Management LLC bought a new position in FirstCash during the second quarter valued at approximately $205,000. Jane Street Group LLC bought a new position in FirstCash during the first quarter valued at approximately $229,000. Granahan Investment Management Inc. MA bought a new position in FirstCash during the second quarter valued at approximately $252,000. Finally, Tocqueville Asset Management L.P. bought a new position in FirstCash during the second quarter valued at approximately $259,000. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on FCFS shares. ValuEngine cut shares of FirstCash from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research cut shares of FirstCash from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Wedbush upgraded shares of FirstCash from a “neutral” rating to an “outperform” rating and set a $90.00 price target for the company in a report on Friday, October 26th. Finally, Barclays initiated coverage on shares of FirstCash in a report on Wednesday, September 26th. They set an “overweight” rating and a $95.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. FirstCash presently has an average rating of “Buy” and a consensus target price of $93.17.
FirstCash Company 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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