Goldman Sachs Group Inc. increased its position in Rent-A-Center Inc. (NASDAQ:RCII) by 39.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 586,554 shares of the company’s stock after buying an additional 167,333 shares during the period. Goldman Sachs Group Inc. owned approximately 1.10% of Rent-A-Center worth $5,202,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Greenwich Wealth Management LLC raised its position in shares of Rent-A-Center by 15.7% in the first quarter. Greenwich Wealth Management LLC now owns 59,134 shares of the company’s stock valued at $525,000 after buying an additional 8,016 shares during the period. First Quadrant L P CA acquired a new position in shares of Rent-A-Center during the first quarter valued at approximately $356,000. Hollencrest Securities LLC acquired a new position in shares of Rent-A-Center during the first quarter valued at approximately $665,000. Louisiana State Employees Retirement System raised its position in shares of Rent-A-Center by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the company’s stock valued at $192,000 after buying an additional 300 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Rent-A-Center by 7,016.1% in the first quarter. Bank of Montreal Can now owns 65,041 shares of the company’s stock valued at $577,000 after buying an additional 64,127 shares during the period.
Rent-A-Center Inc. (RCII) traded up 1.05% during mid-day trading on Friday, reaching $12.50. 1,595,548 shares of the company’s stock traded hands. The firm’s market cap is $666.26 million. The firm has a 50 day moving average of $12.65 and a 200 day moving average of $10.87. Rent-A-Center Inc. has a 1-year low of $7.76 and a 1-year high of $13.89.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The firm had revenue of $667.64 million for the quarter, compared to the consensus estimate of $667.04 million. During the same period last year, the company posted $0.41 earnings per share. The business’s revenue was down 10.9% compared to the same quarter last year. Analysts forecast that Rent-A-Center Inc. will post $0.06 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, June 29th.
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Several research analysts have recently commented on the stock. BidaskClub upgraded shares of Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and issued a $13.00 target price (up from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Loop Capital lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating and set a $8.00 target price on the stock. in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC lowered their target price on shares of Rent-A-Center from $12.00 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $11.00.
In related news, Director Steven L. Pepper acquired 45,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were purchased at an average cost of $10.93 per share, for a total transaction of $491,850.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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