Bank of America Corp DE Boosts Stake in Rent-A-Center Inc (RCII)

Bank of America Corp DE grew its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 249.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 216,006 shares of the company’s stock after acquiring an additional 154,135 shares during the quarter. Bank of America Corp DE owned about 0.40% of Rent-A-Center worth $3,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Rent-A-Center by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 140,606 shares of the company’s stock valued at $2,069,000 after acquiring an additional 5,117 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Rent-A-Center by 3.3% during the 2nd quarter. GSA Capital Partners LLP now owns 179,780 shares of the company’s stock valued at $2,646,000 after acquiring an additional 5,680 shares during the last quarter. Mint Tower Capital Management B.V. bought a new position in shares of Rent-A-Center during the 2nd quarter valued at approximately $147,000. Principal Financial Group Inc. boosted its position in shares of Rent-A-Center by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 409,408 shares of the company’s stock valued at $3,533,000 after acquiring an additional 10,490 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Rent-A-Center during the 2nd quarter valued at approximately $166,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

A number of research firms have recently commented on RCII. BidaskClub downgraded Rent-A-Center from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 22nd. TheStreet upgraded Rent-A-Center from a “d+” rating to a “c-” rating in a research report on Monday, July 9th. ValuEngine upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Loop Capital restated a “sell” rating and issued a $15.00 price target on shares of Rent-A-Center in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.80.

In related news, insider Engaged Capital Llc sold 4,450,000 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $14.67, for a total value of $65,281,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by company insiders.

Shares of RCII opened at $14.17 on Monday. The firm has a market capitalization of $758.19 million, a P/E ratio of -26.24 and a beta of 0.60. Rent-A-Center Inc has a 52-week low of $7.22 and a 52-week high of $14.94. 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 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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Institutional Ownership by Quarter for Rent-A-Center (NASDAQ:RCII)

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