Genesis Asset Managers Llp Increased First Cash Financial Services (NASDAQ:FCFS) by $10.34 Million as Shares Rose


Genesis Asset Managers Llp increased its stake in First Cash Financial Services (NASDAQ:FCFS) by 9.05% based on its latest 2016Q2 regulatory filing with the SEC. Genesis Asset Managers Llp bought 224,700 shares as the company’s stock rose 24.35% with the market. The institutional investor held 2.71 million shares of the consumer services company at the end of 2016Q2, valued at $124.77 million, up from 2.48M at the end of the previous reported quarter. Genesis Asset Managers Llp who had been investing in First Cash Financial Services for a number of months, seems to be bullish on the $1.31 billion market cap company. The stock is down 1.88% or $0.89 hitting $46.49, despite the positive news. About 119,470 shares traded hands. FirstCash Inc (NASDAQ:FCFS) has risen 26.96% since February 8, 2016 and is uptrending. It has outperformed by 10.47% the S&P500.

Genesis Asset Managers Llp is a United Kingdom-based institutional investor with more than $36.75 billion AUM in September, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Genesis Asset Managers latest Adv, the fund reported to have 74 full and part-time employees. Among which 11 performing investment advisory and research functions. The institutional investor had between 26-100 clients.

The institutional sentiment increased to 1.37 in Q2 2016. Its up 0.34, from 1.03 in 2016Q1. The ratio improved, as 13 funds sold all FCFS shares owned while 36 reduced positions. 16 funds bought stakes while 51 increased positions. They now own 23.29 million shares or 0.86% less from 23.49 million shares in 2016Q1.

New South Capital Management Inc holds 1.27% of its portfolio in FCFS for 1.00 million shares. Profit Investment Management Llc owns 27,345 shares or 1.14% of their US portfolio. Moreover, Cooke & Bieler Lp has 1% invested in the company for 878,645 shares. The Texas-based Vaughan Nelson Investment Management L.P. has invested 0.91% in the stock. Fiduciary Management Inc Wi, a Wisconsin-based fund reported 1.05 million shares.

Out of 6 analysts covering First Cash Financial Services (NASDAQ:FCFS), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. First Cash Financial Services has been the topic of 10 analyst reports since October 6, 2015 according to StockzIntelligence Inc. Jefferies reinitiated the stock on September 2 with “Buy” rating.

FirstCash, Inc., formerly First Cash Financial Services, Inc., is an operator of retail pawn stores in the United States and Mexico. The company has a market cap of $1.31 billion. The Company’s primary business is the operation of pawn stores, which make small pawn loans secured by personal property. It has a 23.63 P/E ratio. The Company’s pawn stores generate retail sales from the merchandise acquired through collateral forfeitures and over-the-counter purchases from customers.

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