Nantahala Capital Management Lowers stake in First Cash Financial Services Inc (FCFS)

First Cash Financial Services Inc (FCFS) : Nantahala Capital Management reduced its stake in First Cash Financial Services Inc by 32.27% during the most recent quarter end. The investment management company now holds a total of 489,713 shares of First Cash Financial Services Inc which is valued at $24,985,157 after selling 233,307 shares in First Cash Financial Services Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.First Cash Financial Services Inc makes up approximately 3.91% of Nantahala Capital Management’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in FCFS in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 18,853 shares of First Cash Financial Services Inc which is valued at $961,880.Rhumbline Advisers reduced its stake in FCFS by selling 638 shares or 1.56% in the most recent quarter. The Hedge Fund company now holds 40,254 shares of FCFS which is valued at $2,053,759. First Cash Financial Services Inc makes up approx 0.01% of Rhumbline Advisers’s portfolio.Pacad Investment Ltd. reduced its stake in FCFS by selling 3,600 shares or 67.92% in the most recent quarter. The Hedge Fund company now holds 1,700 shares of FCFS which is valued at $86,734. First Cash Financial Services Inc makes up approx 0.01% of Pacad Investment Ltd.’s portfolio.New York State Common Retirement Fund boosted its stake in FCFS in the latest quarter, The investment management firm added 900 additional shares and now holds a total of 29,000 shares of First Cash Financial Services Inc which is valued at $1,479,580. Financial Management Professionals added FCFS to its portfolio by purchasing 185 company shares during the most recent quarter which is valued at $9,465.

First Cash Financial Services Inc closed down -1.4 points or -2.71% at $50.32 with 18,73,106 shares getting traded on Thursday. Post opening the session at $49.7, the shares hit an intraday low of $49.7 and an intraday high of $52.16 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, First Cash Financial Services Inc reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.47. The company had revenue of $181.98 million for the quarter, compared to analysts expectations of $178.83 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on First Cash Financial Services Inc. Jefferies Resumed First Cash Financial Services Inc on Sep 2, 2016 to “Buy”, Price Target of the shares are set at $60.First Cash Financial Services Inc was Upgraded by Sterne Agee CRT to ” Buy” on Jun 3, 2016.

First Cash Financial Services Inc. is an operator of retail-based pawn stores in the United States and Mexico. The Company is also involved in the purchase of secondhand goods as well as offer consumer financial services products. Its pawn stores generate retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers. In addition some of the Company’s pawn stores offer small consumer loans or credit services products. The Company owns and operates approximately 1247 stores in the United States Mexico and Guatemala. It operates consumer finance stores in Texas and Mexico which include credit services and small unsecured consumer loans. The items the Company sells primarily consist of pre-owned consumer electronics jewelry power tools household appliances sporting goods and musical instruments.

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