Rent-A-Center Inc (NASDAQ:RCII) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 8,953,752 shares, a decline of 16.8% from the August 15th total of 10,758,772 shares. Approximately 18.4% of the company’s stock are short sold. Based on an average trading volume of 760,012 shares, the short-interest ratio is presently 11.8 days.
NASDAQ RCII opened at $14.57 on Monday. The company has a quick ratio of 0.67, a current ratio of 2.60 and a debt-to-equity ratio of 2.15. The firm has a market cap of $791.37 million, a P/E ratio of -26.98 and a beta of 0.59. Rent-A-Center has a 1 year low of $7.22 and a 1 year high of $14.94.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Monday, July 30th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.24. The business had revenue of $655.70 million during the quarter, compared to the consensus estimate of $645.49 million. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. Rent-A-Center’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. equities research analysts expect that Rent-A-Center will post 0.67 earnings per share for the current year.
In other Rent-A-Center news, insider Engaged Capital Llc sold 4,450,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $14.67, for a total value of $65,281,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mint Tower Capital Management B.V. bought a new stake in shares of Rent-A-Center during the 2nd quarter worth $147,000. Cubist Systematic Strategies LLC bought a new stake in shares of Rent-A-Center during the 1st quarter worth $148,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Rent-A-Center during the 2nd quarter worth $166,000. Gargoyle Investment Advisor L.L.C. boosted its holdings in shares of Rent-A-Center by 72.3% during the 1st quarter. Gargoyle Investment Advisor L.L.C. now owns 26,923 shares of the company’s stock worth $232,000 after buying an additional 11,300 shares during the period. Finally, Gabelli Funds LLC bought a new stake in shares of Rent-A-Center during the 2nd quarter worth $256,000. 95.63% of the stock is owned by institutional investors and hedge funds.
RCII has been the subject of several recent research reports. BidaskClub downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. ValuEngine raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Northcoast Research downgraded shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 19th. Loop Capital boosted their target price on shares of Rent-A-Center to $11.00 and gave the stock a “hold” rating in a research report on Monday, June 11th. Finally, Raymond James downgraded shares of Rent-A-Center from an “outperform” rating to a “market perform” rating in a research report on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.00.
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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