BNP Paribas Arbitrage SA Reduces Stake in Rent-A-Center Inc. (RCII)
BNP Paribas Arbitrage SA decreased its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 5.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,752 shares of the company’s stock after selling 1,304 shares during the period. BNP Paribas Arbitrage SA’s holdings in Rent-A-Center were worth $220,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased 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 worth $192,000 after buying an additional 300 shares during the period. Wedge Capital Management L L P NC increased its position in shares of Rent-A-Center by 48.3% in the first quarter. Wedge Capital Management L L P NC now owns 26,741 shares of the company’s stock worth $237,000 after buying an additional 8,715 shares during the period. Barings LLC bought a new position in shares of Rent-A-Center during the fourth quarter worth about $285,000. WFG Advisors LP increased its position in shares of Rent-A-Center by 53,850.0% in the fourth quarter. WFG Advisors LP now owns 7,553 shares of the company’s stock worth $290,000 after buying an additional 7,539 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Rent-A-Center during the fourth quarter worth about $305,000. Institutional investors own 96.81% of the company’s stock.
Rent-A-Center Inc. (RCII) opened at 11.91 on Friday. Rent-A-Center Inc. has a 1-year low of $7.76 and a 1-year high of $13.73. The firm has a 50-day moving average price of $11.75 and a 200 day moving average price of $10.36. The company’s market capitalization is $633.56 million.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings data on Monday, May 1st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. Rent-A-Center had a negative return on equity of 30.44% and a negative net margin of 4.77%. The company had revenue of $742 million for the quarter, compared to analyst estimates of $733.43 million. During the same period last year, the company earned $0.48 earnings per share. Rent-A-Center’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, equities analysts predict that Rent-A-Center Inc. will post $0.34 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, June 29th.
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Several research analysts have weighed in on RCII shares. Stifel Nicolaus restated a “hold” rating and issued a $11.50 price target (up from $8.50) on shares of Rent-A-Center in a research note on Monday, April 17th. Raymond James Financial, Inc. upgraded Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 price target for the company in a research note on Wednesday, April 12th. Stephens downgraded Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 31st. Loop Capital restated a “hold” rating and issued a $8.00 price target on shares of Rent-A-Center in a research note on Wednesday, April 12th. Finally, Janney Montgomery Scott started coverage on Rent-A-Center in a research note on Thursday, April 6th. They issued a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.75.
In other Rent-A-Center news, Director Steven L. Pepper acquired 45,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $10.93 per share, with a total value of $491,850.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Engaged Capital Llc acquired 1,695,233 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was acquired at an average cost of $8.65 per share, for a total transaction of $14,663,765.45. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,840,233 shares of company stock worth $16,325,615. 3.40% of the stock is owned by corporate 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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