Arrowstreet Capital Limited Partnership trimmed its holdings in Rent-A-Center (NASDAQ:RCII) by 71.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,500 shares of the company’s stock after selling 41,200 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rent-A-Center were worth $183,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of RCII. BlackRock Inc. raised its stake in shares of Rent-A-Center by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,470,305 shares of the company’s stock valued at $71,820,000 after acquiring an additional 145,831 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Rent-A-Center by 1.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,577,669 shares of the company’s stock valued at $18,112,000 after buying an additional 25,839 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Rent-A-Center by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 1,418,648 shares of the company’s stock valued at $16,357,000 after buying an additional 189,506 shares in the last quarter. SG Capital Management LLC acquired a new stake in Rent-A-Center in the fourth quarter valued at $6,148,000. Finally, Ameriprise Financial Inc. raised its stake in Rent-A-Center by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 507,473 shares of the company’s stock valued at $5,826,000 after buying an additional 96,896 shares in the last quarter.
RCII traded down $0.32 during trading on Friday, reaching $9.52. The company’s stock had a trading volume of 1,370,492 shares, compared to its average volume of 1,672,785. Rent-A-Center has a 52-week low of $7.22 and a 52-week high of $13.89. The firm has a market capitalization of $508.50, a PE ratio of -17.63 and a beta of 0.74. The company has a current ratio of 2.77, a quick ratio of 0.53 and a debt-to-equity ratio of 2.47.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Tuesday, February 20th. The company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.34). Rent-A-Center had a net margin of 0.25% and a negative return on equity of 11.30%. The business had revenue of $638.95 million during the quarter, compared to analysts’ expectations of $654.55 million. During the same period in the prior year, the firm posted ($0.23) EPS. Rent-A-Center’s revenue for the quarter was down 6.6% compared to the same quarter last year. sell-side analysts predict that Rent-A-Center will post 0.16 EPS for the current year.
A number of analysts have weighed in on RCII shares. Stephens restated an “equal weight” rating and issued a $5.00 price target (down from $8.00) on shares of Rent-A-Center in a research note on Thursday, February 22nd. Stifel Nicolaus dropped their price objective on Rent-A-Center from $10.50 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 27th. Jefferies Group reaffirmed a “hold” rating and set a $9.00 price objective on shares of Rent-A-Center in a report on Friday, February 23rd. Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a report on Friday, January 12th. Finally, BidaskClub raised Rent-A-Center from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Rent-A-Center currently has a consensus rating of “Hold” and a consensus price target of $9.50.
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Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; and furniture, including accessories under rental purchase agreements.
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