External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

Key points (machine generated)<ul><li>FCFS has a strong growth potential with an estimated 6% to 12% growth.</li><li>The company has a well-diversified business model, with pawn shops in both the US and Mexico, indicating a strong cash flow generation.</li><li>FCFS benefits from serving the underbanked population, providing a stable customer base and making it a solid investment option with a track record of outperformance and potential for future growth.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)FCFS has a strong growth potential with an estimated 6% to 12% growth.The company has a well-diversified business model, with pawn shops in both the US and Mexico, indicating a strong cash flow generation.FCFS benefits from serving the underbanked population, providing a stable customer base and making it a solid investment option with a track record of outperformance and potential for future growth.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Firstcash Holdings Inc (FCFS) - Friday, Oct 20, 2023

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>In spite of last week's hotter-than-expected inflation reports, the Russell 2000 (IWM) outperformed relative to the SPX and QQQ, and ended the week at YTD weekly closing highs.</li>
<li>The fact that small- and mid-caps outperformed during a week with two hot inflation reports is a sign we could see more outperformance in the weeks/months ahead.</li>
<li>Adding to the risk-on theme, the DXY displays a false breakout at $104.60-$104.70. Our bullish outlook that we have had since early November 2023 remains intact. </li>
</ul>


In spite of last week's hotter-than-expected inflation reports, the Russell 2000 (IWM) outperformed relative to the SPX and QQQ, and ended the week at YTD weekly closing highs.
The fact that small- and mid-caps outperformed during a week with two hot inflation reports is a sign we could see more outperformance in the weeks/months ahead.
Adding to the risk-on theme, the DXY displays a false breakout at $104.60-$104.70. Our bullish outlook that we have had since early November 2023 remains intact. 


Small Caps Outperform Despite "Hot" Inflation Reports; Equal-Weighted S&P 500 Breakout

Selected Quarterly & Annual Newsletters from Funds, Fund Newsletters

Fund Newsletters

Selected Quarterly & Annual Newsletters from Funds

Thematic (Sector/Industry)

<ul>
<li>The Palm Valley Capital Fund invests in small cap stocks. While our Fund is new, its underlying absolute return-based investment strategy is not. We have practiced the same strategy throughout our careers in investment management.</li>
<li>The combination of falling stock prices and attractive small cap multiples appears to present a powerful case for buying aggressively. We do not share this view.</li>
<li>Non-cash share-based compensation accounts for roughly one-third of the collective free cash flow of small caps in the S&amp;P 600 Index.</li>
<li>The current 33x median price-to-free cash flow multiple for better quality small caps (S&amp;P 600) is the highest this cycle.</li>
<li>Market volatility is important to Palm Valley’s absolute return strategy.</li>
</ul>


The Palm Valley Capital Fund invests in small cap stocks. While our Fund is new, its underlying absolute return-based investment strategy is not. We have practiced the same strategy throughout our careers in investment management.
The combination of falling stock prices and attractive small cap multiples appears to present a powerful case for buying aggressively. We do not share this view.
Non-cash share-based compensation accounts for roughly one-third of the collective free cash flow of small caps in the S&amp;P 600 Index.
The current 33x median price-to-free cash flow multiple for better quality small caps (S&amp;P 600) is the highest this cycle.
Market volatility is important to Palm Valley’s absolute return strategy.


Palm Valley Capital Fund Q3 2022 Commentary

Market dynamics remain largely positive and there continues to be an absence of breakdowns across all Sectors and the major averages. As a result, we continue to see a mixed market environment, but we remain constructive overall with the S&amp;P 500 holding above short-term support at the 50-day moving average and 4056.

Market dynamics remain largely positive and there continues to be an absence of breakdowns across all Sectors and the major averages. As a result, we continue to see a mixed market environment, but we remain constructive overall with the S&amp;P 500 holding above short-term support at the 50-day moving average and 4056.

U.S. Equity Strategy: Growth Improving, But Can It Last?

We continue to view the market as healthy in terms of breadth, although rotations are occurring at the margin which warrant minor tweaks to our overall theme of continued consolidation and heightened volatility. Also within our May Equity Strategy, we highlight opportunities within the Technology (Overweight), Financial (Overweight), and Energy (Market weight) Sectors.

We continue to view the market as healthy in terms of breadth, although rotations are occurring at the margin which warrant minor tweaks to our overall theme of continued consolidation and heightened volatility. Also within our May Equity Strategy, we highlight opportunities within the Technology (Overweight), Financial (Overweight), and Energy (Market weight) Sectors.

U.S. Equity Strategy: Upgrading Utilities, Downgrading Manufacturing

United States

FirstCash Holdings, Inc. owns and operates pawn stores. The Company focuses on serving cash and credit constrained consumers through its retail pawn locations. FirstCash Holdings serves customers worldwide.

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FirstCash Holdings (FCFS US)

Firstcash Holdings Inc (FCFS) - Friday, Oct 20, 2023

The company has a well-diversified business model, with pawn shops in both the US and Mexico, indicating a strong cash flow generation.

Value Investors Club

Small Caps Outperform Despite "Hot" Inflation Reports; Equal-Weighted S&P 500 Breakout

Small Caps $IWM $VXF Outperform Despite "Hot" Inflation Reports; Equal-Weighted S&P 500 $RSP Breakout; U.S. Dollar $DXY Failed Breakout at $104.70;...

Vermilion Research

Palm Valley Capital Fund Q3 2022 Commentary

The Palm Valley Capital Fund invests in small cap stocks. While our Fund is new, its underlying absolute return-based investment strategy is not....

Fund Newsletters

U.S. Equity Strategy: Growth Improving, But Can It Last?

We continue to see a mixed market environment, but we remain constructive overall with the S&P 500 holding above short-term support at the 50-day...

Vermilion Research

U.S. Equity Strategy: Upgrading Utilities, Downgrading Manufacturing

We continue to view the market as healthy in terms of breadth, although rotations are occurring at the margin which warrant minor tweaks to our...

Vermilion Research

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