FirstCash Holdings Inc. said its shares reached a record $236.36 on Monday, capping a 42% gain for the year and a 57% increase over the past 12 months.
The milestone comes as FirstCash nears the completion of its $273 million acquisition of U.K.-based Ramsdens Holdings plc, a pawnbroker operator with 280 stores across Britain. The deal, valued at 600 pence per Ramsdens share in cash plus an interim dividend of up to 9 pence, is expected to expand FirstCash’s footprint in the European market.
Shareholders also approved FirstCash’s reincorporation from Delaware to Texas, a move completed after a majority vote at the company’s annual meeting. The shift does not affect headquarters or operations outside of state franchise tax considerations, the company said.
FirstCash’s stock was trading just 1% below its 52-week high of $235.97, according to market data. The company reported 22% revenue growth in the trailing twelve months, while 95.09% of outstanding shares were represented at the annual meeting.
FirstCash’s ticker, FCFS, rose 4.95% in Monday trading, while Ramsdens’ RFXR gained 0.45%.
