Municipal Employees Retirement System of Michigan lowered its stake in Aaron’s, Inc. (NYSE:AAN) by 17.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,030 shares of the company’s stock after selling 5,100 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Aaron’s, were worth $935,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Aaron’s, by 14,081.2% in the first quarter. BlackRock Inc. now owns 6,938,700 shares of the company’s stock valued at $206,356,000 after buying an additional 6,889,771 shares in the last quarter. Vanguard Group Inc. increased its stake in Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after buying an additional 361,856 shares in the last quarter. LSV Asset Management increased its stake in Aaron’s, by 49.0% in the first quarter. LSV Asset Management now owns 2,020,086 shares of the company’s stock valued at $60,077,000 after buying an additional 664,286 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Aaron’s, by 70.6% in the first quarter. Bank of New York Mellon Corp now owns 1,399,062 shares of the company’s stock valued at $41,607,000 after buying an additional 578,774 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Aaron’s, by 140.7% in the first quarter. Ameriprise Financial Inc. now owns 1,100,484 shares of the company’s stock valued at $32,729,000 after buying an additional 643,365 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Shares of Aaron’s, Inc. (NYSE:AAN) opened at 45.19 on Friday. The company has a 50 day moving average price of $41.12 and a 200-day moving average price of $34.50. Aaron’s, Inc. has a 12 month low of $22.37 and a 12 month high of $48.22. The stock has a market cap of $3.20 billion, a P/E ratio of 23.22 and a beta of 0.17.

Aaron’s, (NYSE:AAN) last released its earnings results on Friday, July 28th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The company had revenue of $815.60 million for the quarter, compared to analysts’ expectations of $786.12 million. During the same quarter in the previous year, the company earned $0.59 EPS. Aaron’s, ‘s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Aaron’s, Inc. will post $2.56 earnings per share for the current year.

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AAN has been the topic of several recent research reports. Jefferies Group LLC restated a “buy” rating on shares of Aaron’s, in a research report on Sunday, July 30th. BidaskClub downgraded Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Northcoast Research restated a “buy” rating and set a $52.50 target price (up previously from $45.00) on shares of Aaron’s, in a research report on Monday, July 31st. Loop Capital restated a “hold” rating and set a $28.00 target price on shares of Aaron’s, in a research report on Sunday, April 23rd. Finally, Zacks Investment Research upgraded Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, May 2nd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.50.

In related news, CFO Steven A. Michaels sold 5,000 shares of Aaron’s, stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total transaction of $231,300.00. Following the transaction, the chief financial officer now owns 61,095 shares in the company, valued at approximately $2,826,254.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John W. Robinson sold 15,000 shares of Aaron’s, stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $46.11, for a total transaction of $691,650.00. Following the transaction, the chief executive officer now owns 348,440 shares in the company, valued at approximately $16,066,568.40. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by insiders.

About Aaron’s,

Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.

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Institutional Ownership by Quarter for Aaron`s,  (NYSE:AAN)

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