State of Michigan Retirement System Boosts Holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS)

State of Michigan Retirement System increased its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 1.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,315 shares of the company’s stock after acquiring an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in FirstCash were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in FirstCash by 808.0% during the 1st quarter. Farther Finance Advisors LLC now owns 227 shares of the company’s stock worth $27,000 after acquiring an additional 202 shares during the period. CX Institutional bought a new stake in FirstCash in the first quarter worth $42,000. UMB Bank n.a. increased its position in FirstCash by 167.5% in the first quarter. UMB Bank n.a. now owns 452 shares of the company’s stock worth $54,000 after purchasing an additional 283 shares during the last quarter. Quarry LP boosted its stake in FirstCash by 986.5% during the fourth quarter. Quarry LP now owns 565 shares of the company’s stock worth $59,000 after buying an additional 513 shares during the period. Finally, Hurley Capital LLC purchased a new position in FirstCash during the fourth quarter worth $74,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

FirstCash Price Performance

NASDAQ FCFS opened at $129.94 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.28 and a current ratio of 4.39. The firm’s 50 day moving average price is $130.55 and its 200-day moving average price is $121.36. FirstCash Holdings, Inc. has a 52-week low of $100.24 and a 52-week high of $138.42. The company has a market cap of $5.77 billion, a PE ratio of 20.79 and a beta of 0.62.

FirstCash (NASDAQ:FCFS) last posted its earnings results on Thursday, April 24th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.32. FirstCash had a net margin of 8.29% and a return on equity of 16.08%. The company had revenue of $836.42 million during the quarter, compared to analysts’ expectations of $837.11 million. During the same quarter in the prior year, the company posted $1.55 earnings per share. FirstCash’s revenue for the quarter was up .0% compared to the same quarter last year. Sell-side analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.17%. FirstCash’s dividend payout ratio (DPR) is presently 24.32%.

Insider Activity

In related news, insider Howard F. Hambleton sold 3,900 shares of the firm’s stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $130.93, for a total transaction of $510,627.00. Following the completion of the transaction, the insider owned 32,481 shares of the company’s stock, valued at $4,252,737.33. This trade represents a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 14.77% of the stock is currently owned by company insiders.

FirstCash Company Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.