Fifth Third Bancorp Reduces Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Fifth Third Bancorp lowered its position in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 29.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,754 shares of the company's stock after selling 4,890 shares during the period. Fifth Third Bancorp's holdings in FirstCash were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of FCFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in FirstCash in the 2nd quarter worth approximately $54,000. CWM LLC boosted its holdings in FirstCash by 157.5% during the third quarter. CWM LLC now owns 569 shares of the company's stock worth $65,000 after buying an additional 348 shares in the last quarter. GAMMA Investing LLC grew its position in FirstCash by 28.9% during the third quarter. GAMMA Investing LLC now owns 900 shares of the company's stock valued at $103,000 after buying an additional 202 shares during the period. Quarry LP increased its holdings in FirstCash by 511.1% in the second quarter. Quarry LP now owns 1,100 shares of the company's stock valued at $115,000 after buying an additional 920 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of FirstCash in the third quarter worth about $133,000. Institutional investors and hedge funds own 80.30% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on FCFS. TD Cowen cut their price target on FirstCash from $134.00 to $130.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Stephens started coverage on FirstCash in a research report on Wednesday, November 13th. They issued an "overweight" rating and a $137.00 price objective for the company.

FirstCash Price Performance

NASDAQ FCFS traded up $0.38 during mid-day trading on Wednesday, hitting $111.94. The stock had a trading volume of 291,622 shares, compared to its average volume of 221,635. FirstCash Holdings, Inc. has a twelve month low of $100.24 and a twelve month high of $133.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.31 and a quick ratio of 3.23. The firm's 50 day moving average is $106.93 and its 200 day moving average is $110.77. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 20.73 and a beta of 0.66.

Insider Buying and Selling at FirstCash

In related news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $105.68, for a total transaction of $211,360.00. Following the completion of the transaction, the chief financial officer now owns 88,715 shares of the company's stock, valued at approximately $9,375,401.20. This trade represents a 2.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 14.77% of the stock is 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.