FirstCash Inc. shares reached a record $236.36 on Monday, extending a 57% gain over the past year as investors priced in the company's planned $273 million acquisition of UK pawnbroker Ramsdens Holdings plc.
The stock, which last traded at $236.36, remains 1% below its 52-week intraday peak of $235.97 set earlier in the session. Year-to-date, FirstCash has advanced 42%, while revenue for the trailing twelve months rose 22%.
The surge follows FirstCash's annual meeting, where 95.09% of outstanding shares were represented. Shareholders approved the reincorporation of FirstCash Holdings from Delaware to Texas, a move completed after the vote. The company also secured approval for its pending acquisition of Ramsdens, a UK-based pawnbroking operator.
Under the deal terms, FirstCash will pay 600 pence per Ramsdens share in cash, supplemented by an interim dividend of up to 9 pence per share. The transaction, valued at approximately $273 million, is expected to close pending regulatory and shareholder clearances.
InvestingPro data classifies FirstCash as among the market's most overvalued stocks relative to its fair value estimate, though the shares have continued to climb amid strong operational performance and deal momentum.
