Marshall Wace LLP Takes Position in Rent-A-Center Inc (RCII)
Marshall Wace LLP bought a new position in Rent-A-Center Inc (NASDAQ:RCII) during the third quarter, Holdings Channel reports. The fund bought 1,715,648 shares of the company’s stock, valued at approximately $24,671,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mint Tower Capital Management B.V. purchased a new position in shares of Rent-A-Center in the second quarter worth approximately $147,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Rent-A-Center in the second quarter worth approximately $166,000. Equitec Specialists LLC purchased a new position in shares of Rent-A-Center in the third quarter worth approximately $198,000. Pacer Advisors Inc. increased its position in shares of Rent-A-Center by 122.7% in the third quarter. Pacer Advisors Inc. now owns 15,993 shares of the company’s stock worth $230,000 after acquiring an additional 8,811 shares in the last quarter. Finally, HRT Financial LLC purchased a new position in shares of Rent-A-Center in the third quarter worth approximately $240,000. Institutional investors and hedge funds own 94.69% of the company’s stock.
Several research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, November 28th. ValuEngine raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, Loop Capital reissued a “sell” rating and issued a $15.00 target price on shares of Rent-A-Center in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.80.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. Rent-A-Center had a net margin of 1.58% and a return on equity of 6.16%. The firm had revenue of $645.00 million for the quarter, compared to the consensus estimate of $636.43 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Rent-A-Center Inc will post 0.87 EPS for the current year.
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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