Engineers Gate Manager LP Takes $576,000 Position in Rent-A-Center Inc. (RCII)
Engineers Gate Manager LP bought a new stake in shares of Rent-A-Center Inc. (NASDAQ:RCII) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 50,133 shares of the company’s stock, valued at approximately $576,000. Engineers Gate Manager LP owned approximately 0.09% of Rent-A-Center at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Westfield Capital Management Co. LP purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at approximately $326,000. JPMorgan Chase & Co. increased its holdings in shares of Rent-A-Center by 1,124.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock valued at $14,405,000 after purchasing an additional 1,128,785 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in shares of Rent-A-Center by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,215,402 shares of the company’s stock valued at $36,913,000 after purchasing an additional 68,605 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Rent-A-Center by 13.2% during the 2nd quarter. Pinebridge Investments L.P. now owns 81,797 shares of the company’s stock valued at $959,000 after purchasing an additional 9,569 shares in the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of Rent-A-Center during the 2nd quarter valued at approximately $5,376,000.
RCII has been the subject of several recent research reports. BidaskClub lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Group reissued a “hold” rating and issued a $12.00 price target on shares of Rent-A-Center in a report on Thursday, September 7th. Zacks Investment Research lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Stifel Nicolaus reissued a “hold” rating and issued a $10.50 price target on shares of Rent-A-Center in a report on Wednesday, November 1st. Finally, Loop Capital set a $8.00 price target on shares of Rent-A-Center and gave the stock a “sell” rating in a report on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $11.21.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings results on Monday, October 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.07). The company had revenue of $643.97 million during the quarter, compared to analysts’ expectations of $649.09 million. Rent-A-Center had a negative return on equity of 0.66% and a negative net margin of 6.35%. Rent-A-Center’s revenue was down 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 EPS. sell-side analysts forecast that Rent-A-Center Inc. will post -0.19 EPS for the current fiscal year.
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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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