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

First Cash Financial Services Inc (FCFS) : Archon Capital Management reduced its stake in First Cash Financial Services Inc by 71.59% during the most recent quarter end. The investment management company now holds a total of 68,500 shares of First Cash Financial Services Inc which is valued at $3,494,870 after selling 172,633 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 4.06% of Archon Capital Management’s portfolio.

Other Hedge Funds, Including , Prince Street Capital Management added FCFS to its portfolio by purchasing 113,000 company shares during the most recent quarter which is valued at $5,765,260. First Cash Financial Services Inc makes up approx 1.62% of Prince Street Capital Management’s portfolio.Fiduciary Management Inc Wi reduced its stake in FCFS by selling 76,375 shares or 6.78% in the most recent quarter. The Hedge Fund company now holds 1,049,425 shares of FCFS which is valued at $53,541,664. First Cash Financial Services Inc makes up approx 0.31% of Fiduciary Management Inc Wi’s portfolio.Blackrock Investment Management boosted its stake in FCFS in the latest quarter, The investment management firm added 3,464 additional shares and now holds a total of 115,192 shares of First Cash Financial Services Inc which is valued at $5,877,096. First Cash Financial Services Inc makes up approx 0.01% of Blackrock Investment Management’s portfolio. Kayne Anderson Rudnick Investment Management sold out all of its stake in FCFS during the most recent quarter. The investment firm sold 178,902 shares of FCFS which is valued $9,200,930.

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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