Bessemer Group Inc. Decreases Position in FirstCash Inc (NYSE:FCFS)

Bessemer Group Inc. lessened its holdings in shares of FirstCash Inc (NYSE:FCFS) by 25.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,100 shares of the credit services provider’s stock after selling 6,557 shares during the period. Bessemer Group Inc.’s holdings in FirstCash were worth $1,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund increased its position in shares of FirstCash by 0.3% in the 1st quarter. New York State Common Retirement Fund now owns 437,964 shares of the credit services provider’s stock valued at $37,884,000 after acquiring an additional 1,400 shares during the period. Texas Permanent School Fund increased its position in shares of FirstCash by 3.1% in the 1st quarter. Texas Permanent School Fund now owns 29,580 shares of the credit services provider’s stock valued at $2,559,000 after acquiring an additional 897 shares during the period. Norges Bank acquired a new position in shares of FirstCash in the 4th quarter valued at $45,598,000. Geode Capital Management LLC increased its position in shares of FirstCash by 11.7% in the 4th quarter. Geode Capital Management LLC now owns 495,495 shares of the credit services provider’s stock valued at $35,848,000 after acquiring an additional 51,800 shares during the period. Finally, Citigroup Inc. increased its position in shares of FirstCash by 53.3% in the 1st quarter. Citigroup Inc. now owns 41,342 shares of the credit services provider’s stock valued at $3,576,000 after acquiring an additional 14,368 shares during the period. Hedge funds and other institutional investors own 95.30% of the company’s stock.

In other news, CFO R Douglas Orr sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $96.94, for a total transaction of $727,050.00. Following the sale, the chief financial officer now directly owns 142,500 shares in the company, valued at approximately $13,813,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.83% of the stock is owned by company insiders.

FCFS traded up $2.80 during midday trading on Friday, hitting $103.21. 6,599 shares of the company were exchanged, compared to its average volume of 208,428. The business has a 50 day moving average of $100.75. FirstCash Inc has a 1-year low of $66.28 and a 1-year high of $106.80.

FirstCash (NYSE:FCFS) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $446.00 million for the quarter, compared to analyst estimates of $435.50 million. FirstCash’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share.

Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th. Barclays downgraded FirstCash from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. They noted that the move was a valuation call. JMP Securities cut their price target on Tesla from $374.00 to $369.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 25th. Finally, Jefferies Financial Group set a €110.00 ($127.91) price target on Airbus and gave the stock a “buy” rating in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. FirstCash presently has a consensus rating of “Hold” and an average price target of $106.00.

FirstCash 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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Institutional Ownership by Quarter for FirstCash (NYSE:FCFS)

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