Macquarie Group Ltd. Acquires 778 Shares of FirstCash Inc (NYSE:FCFS)

Macquarie Group Ltd. boosted its holdings in FirstCash Inc (NYSE:FCFS) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,684 shares of the credit services provider’s stock after purchasing an additional 778 shares during the quarter. Macquarie Group Ltd.’s holdings in FirstCash were worth $2,069,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FCFS. FMR LLC increased its holdings in FirstCash by 55.5% in the first quarter. FMR LLC now owns 2,719,587 shares of the credit services provider’s stock worth $235,244,000 after purchasing an additional 970,130 shares in the last quarter. BlackRock Inc. increased its holdings in FirstCash by 8.4% in the second quarter. BlackRock Inc. now owns 6,912,083 shares of the credit services provider’s stock worth $691,346,000 after purchasing an additional 538,136 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in FirstCash in the second quarter worth approximately $27,971,000. Westfield Capital Management Co. LP bought a new stake in FirstCash in the second quarter worth approximately $17,939,000. Finally, Morgan Stanley increased its holdings in FirstCash by 85.0% in the second quarter. Morgan Stanley now owns 201,850 shares of the credit services provider’s stock worth $20,189,000 after purchasing an additional 92,729 shares in the last quarter. Institutional investors and hedge funds own 95.30% of the company’s stock.

A number of equities research analysts have weighed in on the company. Barclays downgraded FirstCash from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Zacks Investment Research downgraded FirstCash from a “hold” rating to a “sell” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group lifted their target price on FirstCash from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. FirstCash currently has a consensus rating of “Hold” and an average target price of $106.00.

In other news, CFO R Douglas Orr sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $101.83, for a total transaction of $254,575.00. Following the completion of the sale, the chief financial officer now owns 135,000 shares in the company, valued at $13,747,050. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James H. Graves sold 3,597 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $99.33, for a total value of $357,290.01. Following the sale, the director now owns 21,272 shares of the company’s stock, valued at approximately $2,112,947.76. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

NYSE FCFS opened at $92.01 on Friday. FirstCash Inc has a 52 week low of $66.28 and a 52 week high of $106.80. The business has a 50 day moving average price of $95.10 and a 200-day moving average price of $96.39.

FirstCash (NYSE:FCFS) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.01. The firm had revenue of $446.00 million for the quarter, compared to the consensus estimate of $435.50 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS.

About FirstCash

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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Institutional Ownership by Quarter for FirstCash (NYSE:FCFS)

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