Engaged Capital LLC recently stated that they own a 16.8% stake in Rent-A-Center Inc (NASDAQ:RCII) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, May 25th. The investor owns 8,983,609 shares of the stock worth about $91,183,631. The reporting parties listed on the disclosure included Engaged Capital Flagship Master Fund, LP, Engaged Capital CoInvest V, LP, Engaged Capital CoInvest VA, LP, Engaged Capital Flagship Fund, LP, Engaged Capital Flagship Fund, Ltd, Engaged Capital, LLC, Engaged Capital Holdings, LLC, Glenn W Welling and Christopher B Hetrick. The filing is available through Edgar at this hyperlink.
A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. lifted its position in Rent-A-Center by 0.5% during the first quarter. BlackRock Inc. now owns 6,500,590 shares of the company’s stock valued at $56,099,000 after buying an additional 30,285 shares during the period. Arlington Value Capital LLC increased its holdings in shares of Rent-A-Center by 32.6% during the fourth quarter. Arlington Value Capital LLC now owns 4,070,422 shares of the company’s stock valued at $45,181,000 after acquiring an additional 1,000,103 shares in the last quarter. Brandes Investment Partners LP increased its holdings in shares of Rent-A-Center by 9.6% during the fourth quarter. Brandes Investment Partners LP now owns 1,993,468 shares of the company’s stock valued at $22,127,000 after acquiring an additional 174,472 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Rent-A-Center during the fourth quarter valued at $19,474,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Rent-A-Center by 0.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,553,563 shares of the company’s stock valued at $13,408,000 after acquiring an additional 12,149 shares in the last quarter.
RCII has been the subject of several analyst reports. BidaskClub upgraded Rent-A-Center from a “strong sell” rating to a “sell” rating in a report on Tuesday, March 13th. Zacks Investment Research upgraded Rent-A-Center from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 24th. Stephens restated an “equal weight” rating and set a $5.00 price target (down from $8.00) on shares of Rent-A-Center in a report on Thursday, February 22nd. ValuEngine upgraded Rent-A-Center from a “strong sell” rating to a “sell” rating in a report on Monday, May 14th. Finally, Loop Capital upgraded Rent-A-Center from a “sell” rating to a “hold” rating and raised their price target for the company from $6.00 to $9.00 in a report on Monday, April 9th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.20.
Shares of Rent-A-Center traded up $0.13, hitting $10.15, on Friday, MarketBeat Ratings reports. 590,200 shares of the company traded hands, compared to its average volume of 1,553,940. Rent-A-Center Inc has a 52 week low of $7.22 and a 52 week high of $13.89. The company has a market capitalization of $554.44 million, a PE ratio of -18.80 and a beta of 0.72. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.51 and a quick ratio of 0.58.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Monday, April 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.16). Rent-A-Center had a negative return on equity of 13.81% and a negative net margin of 0.24%. The business had revenue of $698.00 million during the quarter, compared to the consensus estimate of $701.27 million. During the same quarter in the previous year, the business posted $0.04 earnings per share. Rent-A-Center’s quarterly revenue was down 5.9% compared to the same quarter last year. sell-side analysts anticipate that Rent-A-Center Inc will post 0.08 earnings per share for the current fiscal year.
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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