Genesis Asset Managers Llp Lowers stake in First Cash Financial Services Inc (FCFS)

First Cash Financial Services Inc (FCFS) : Genesis Asset Managers Llp reduced its stake in First Cash Financial Services Inc by 19.1% during the most recent quarter end. The investment management company now holds a total of 2,169,389 shares of First Cash Financial Services Inc which is valued at $102,612,100 after selling 512,177 shares in First Cash Financial Services Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.First Cash Financial Services Inc makes up approximately 3.91% of Genesis Asset Managers Llp’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in FCFS in the latest quarter, The investment management firm added 917 additional shares and now holds a total of 2,570 shares of First Cash Financial Services Inc which is valued at $121,561. First Cash Financial Services Inc makes up approx 0.02% of Simplex Trading’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in FCFS by selling 7,701 shares or 47.23% in the most recent quarter. The Hedge Fund company now holds 8,604 shares of FCFS which is valued at $412,218. Washington Trust Bank sold out all of its stake in FCFS during the most recent quarter. The investment firm sold 34 shares of FCFS which is valued $1,629.

First Cash Financial Services Inc opened for trading at $46.69 and hit $47.41 on the upside on Friday, eventually ending the session at $47.3, with a gain of 1.42% or 0.66 points. The heightened volatility saw the trading volume jump to 2,32,849 shares. Company has a market cap of $1,336 M.

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. 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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