FORT WORTH, Texas—Owen Randel G, a director at FirstCash (NASDAQ:FCFS) Holdings, Inc. (NASDAQ:FCFS), sold 2,000 shares of common stock on November 6, 2024. The shares were sold at a price of $113.92 each, amounting to a total transaction value of $227,840.
Following this sale, Owen owns 7,888 shares directly. The transaction was part of a 10b5-1 Preset Diversification Program initiated on August 1, 2024.
In other recent news, FirstCash Holdings has reported strong growth in recent periods, with impressive earnings and revenue results. The company achieved record revenue and earnings, with a significant increase in same-store pawn receivables and growth in local currency pawn revenues and receivables. Gross revenues for the third quarter reached $837 million, showing a 9% increase compared to the prior-year quarter. The company's net income for the same period also increased by 13%.
FirstCash has also been active in expansion, opening 16 new pawn stores in the third quarter, contributing to a total of 83 new openings and acquisitions during the year. The company declared a quarterly cash dividend of $0.38 per share, an indicator of its strong financial performance.
Several analyst actions were noted, with Loop Capital maintaining a Buy rating on the company's stock and BTIG initiating coverage with a Neutral rating. TD Cowen upgraded FirstCash from Hold to Buy, despite reducing the stock price target. These are among the recent developments, providing insight into FirstCash's current position and future expectations.
InvestingPro Insights
While Owen Randel G's recent sale of FirstCash Holdings, Inc. (NASDAQ:FCFS) shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, FirstCash boasts a market capitalization of $4.91 billion and has demonstrated solid financial performance with a revenue of $3.36 billion over the last twelve months as of Q3 2023, representing a 10.1% growth.
Notably, FirstCash has maintained a strong dividend policy. An InvestingPro Tip highlights that the company has raised its dividend for 9 consecutive years, signaling financial stability and a commitment to shareholder returns. This is further supported by the company's current dividend yield of 1.38%.
Another InvestingPro Tip reveals that three analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for the company's near-term performance. This optimism is reflected in the company's profitability, as FirstCash has been profitable over the last twelve months.
Investors seeking a more comprehensive analysis can access additional insights through InvestingPro, which offers 7 more tips for FirstCash Holdings, providing a deeper understanding of the company's financial health and market position.
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