FirstCash Holdings, Inc. (NASDAQ:FCFS) Short Interest Up 21.0% in January

by · The Markets Daily

FirstCash Holdings, Inc. (NASDAQ:FCFSGet Free Report) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 594,289 shares, a growth of 21.0% from the December 31st total of 491,220 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 270,539 shares, the short-interest ratio is presently 2.2 days. Based on an average daily volume of 270,539 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the company’s shares are short sold.

FirstCash Stock Performance

Shares of FCFS stock traded down $0.71 during mid-day trading on Tuesday, hitting $170.98. 229,937 shares of the stock were exchanged, compared to its average volume of 223,420. The stock’s fifty day simple moving average is $163.81 and its two-hundred day simple moving average is $153.41. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.72 and a current ratio of 4.99. FirstCash has a 12-month low of $107.25 and a 12-month high of $174.51. The stock has a market capitalization of $7.55 billion, a price-to-earnings ratio of 24.67 and a beta of 0.49.

FirstCash declared that its board has initiated a share repurchase program on Thursday, October 30th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstCash in a research note on Monday, December 29th. TD Cowen reaffirmed a “buy” rating on shares of FirstCash in a report on Friday, October 31st. Zacks Research cut shares of FirstCash from a “strong-buy” rating to a “hold” rating in a report on Friday, January 2nd. Wall Street Zen downgraded shares of FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $205.00 price objective on shares of FirstCash in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Check Out Our Latest Stock Analysis on FCFS

Insider Buying and Selling at FirstCash

In other news, insider Howard F. Hambleton sold 4,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $163.74, for a total transaction of $654,960.00. Following the sale, the insider owned 26,581 shares of the company’s stock, valued at approximately $4,352,372.94. This represents a 13.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas Brent Stuart sold 10,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $159.97, for a total value of $1,599,700.00. Following the completion of the sale, the chief operating officer owned 127,724 shares in the company, valued at approximately $20,432,008.28. The trade was a 7.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,000 shares of company stock valued at $6,481,395. Corporate insiders own 14.77% of the company’s stock.

Institutional Investors Weigh In On FirstCash

Several large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC purchased a new position in FirstCash during the 2nd quarter valued at about $336,000. Drive Wealth Management LLC purchased a new stake in shares of FirstCash in the second quarter valued at about $230,000. Squarepoint Ops LLC grew its position in shares of FirstCash by 685.2% in the second quarter. Squarepoint Ops LLC now owns 37,896 shares of the company’s stock valued at $5,121,000 after purchasing an additional 33,070 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of FirstCash by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 388,635 shares of the company’s stock worth $52,520,000 after purchasing an additional 6,633 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in shares of FirstCash by 334.2% during the 2nd quarter. Hsbc Holdings PLC now owns 29,111 shares of the company’s stock worth $3,920,000 after purchasing an additional 22,406 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.

FirstCash Company Profile

(Get Free Report)

FirstCash, Inc (NASDAQ: FCFS) is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.

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