Public Employees Retirement System of Ohio boosted its holdings in Rent-A-Center Inc (NASDAQ:RCII) by 506.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,111 shares of the company’s stock after buying an additional 70,252 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.16% of Rent-A-Center worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in RCII. Mint Tower Capital Management B.V. purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at $147,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at $166,000. Cubist Systematic Strategies LLC purchased a new position in shares of Rent-A-Center during the 1st quarter valued at $148,000. Gabelli Funds LLC purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at $256,000. Finally, Kellner Capital LLC purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at $263,000. Institutional investors and hedge funds own 95.96% of the company’s stock.
In other news, insider Engaged Capital Llc sold 4,450,000 shares of Rent-A-Center stock in a transaction on Monday, August 20th. The shares were sold at an average price of $14.67, for a total transaction 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.
RCII opened at $14.31 on Friday. The firm has a market cap of $769.44 million, a PE ratio of -26.50 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 2.60 and a debt-to-equity ratio of 2.15. Rent-A-Center Inc has a one year low of $7.22 and a one 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 analysts’ consensus estimates of $0.23 by $0.24. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. The company had revenue of $655.70 million during the quarter, compared to the consensus estimate of $645.49 million. During the same period in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts forecast that Rent-A-Center Inc will post 0.75 EPS for the current fiscal year.
A number of research analysts have recently commented on RCII shares. ValuEngine upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Wednesday, July 4th. TheStreet upgraded shares of Rent-A-Center from a “d+” rating to a “c-” rating in a research report on Monday, July 9th. Finally, Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating in a research report on Monday, June 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $11.80.
Rent-A-Center Company Profile
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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