Rent-A-Center Inc. (RCII) Stake Maintained by Barings LLC
Barings LLC maintained its position in Rent-A-Center Inc. (NASDAQ:RCII) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,350 shares of the company’s stock at the end of the second quarter. Barings LLC’s holdings in Rent-A-Center were worth $225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RCII. Engaged Capital LLC grew its holdings in shares of Rent-A-Center by 290.2% during the first quarter. Engaged Capital LLC now owns 8,983,609 shares of the company’s stock worth $79,685,000 after buying an additional 6,681,233 shares during the last quarter. Arlington Value Capital LLC grew its holdings in shares of Rent-A-Center by 85.2% during the second quarter. Arlington Value Capital LLC now owns 2,722,514 shares of the company’s stock worth $31,907,000 after buying an additional 1,252,756 shares during the last quarter. FMR LLC purchased a new position in shares of Rent-A-Center during the first quarter worth about $10,676,000. JPMorgan Chase & Co. grew its holdings in shares of Rent-A-Center by 1,124.8% during the second quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock worth $14,405,000 after buying an additional 1,128,785 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in shares of Rent-A-Center during the second quarter worth about $5,376,000.
A number of equities analysts recently issued reports on RCII shares. Loop Capital reissued a “sell” rating and set a $8.00 price target on shares of Rent-A-Center in a report on Tuesday, July 18th. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and set a $12.00 price target on shares of Rent-A-Center in a report on Thursday, September 7th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $13.00 price target (up previously from $11.50) on shares of Rent-A-Center in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Rent-A-Center presently has an average rating of “Hold” and a consensus target price of $11.71.
Shares of Rent-A-Center Inc. (NASDAQ RCII) opened at 10.43 on Friday. The stock’s market cap is $555.93 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 price of $11.47 and a 200-day moving average price of $11.76.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, July 26th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). Rent-A-Center had a positive return on equity of 3.87% and a negative net margin of 5.57%. The firm had revenue of $667.64 million during the quarter, compared to the consensus estimate of $667.04 million. During the same quarter last year, the company posted $0.41 EPS. Rent-A-Center’s revenue for the quarter was down 10.9% on a year-over-year basis. Analysts anticipate that Rent-A-Center Inc. will post $0.07 earnings per share for the current fiscal year.
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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