14,400 Shares in Rent-A-Center Inc. (RCII) Acquired by Gargoyle Investment Advisor L.L.C.
Gargoyle Investment Advisor L.L.C. purchased a new position in shares of Rent-A-Center Inc. (NASDAQ:RCII) during the second quarter, Holdings Channel reports. The firm purchased 14,400 shares of the company’s stock, valued at approximately $169,000.
A number of other large investors have also recently bought and sold shares of the stock. Mason Street Advisors LLC raised its stake in Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock worth $110,000 after buying an additional 825 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Rent-A-Center by 77.1% in the second quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after buying an additional 4,548 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Rent-A-Center during the first quarter worth approximately $130,000. Wedbush Securities Inc. purchased a new stake in Rent-A-Center during the first quarter worth approximately $146,000. Finally, Municipal Employees Retirement System of Michigan raised its stake in Rent-A-Center by 3.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after buying an additional 440 shares in the last quarter.
Rent-A-Center Inc. (NASDAQ:RCII) opened at 13.00 on Wednesday. The company’s market capitalization is $692.91 million. Rent-A-Center Inc. has a one year low of $7.76 and a one year high of $13.89. The firm has a 50-day moving average of $12.56 and a 200 day moving average of $10.81.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by $0.08. The firm had revenue of $667.64 million for the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 earnings per share. Equities research analysts predict that Rent-A-Center Inc. will post $0.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.46%. The ex-dividend date was Thursday, June 29th.
RCII has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Stifel Nicolaus reiterated a “hold” rating and set a $13.00 price target (up from $11.50) on shares of Rent-A-Center in a report on Friday, July 28th. Jefferies Group LLC lowered their price target on shares of Rent-A-Center from $12.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, May 3rd. Finally, Loop Capital lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating and set a $8.00 price target for the company. in a report on Wednesday, June 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.00.
In other news, Director Steven L. Pepper acquired 45,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was bought at an average cost of $10.93 per share, with a total value of $491,850.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.40% of the stock is owned by insiders.
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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