Vanguard Group Inc. Has $57.58 Million Holdings in Rent-A-Center Inc. (RCII)
Vanguard Group Inc. cut its stake in Rent-A-Center Inc. (NASDAQ:RCII) by 31.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,913,030 shares of the company’s stock after selling 2,202,950 shares during the quarter. Vanguard Group Inc. owned approximately 9.22% of Rent-A-Center worth $57,581,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in RCII. State of Alaska Department of Revenue raised its stake in shares of Rent-A-Center by 77.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after buying an additional 4,548 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Rent-A-Center by 3.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after buying an additional 440 shares during the period. Gargoyle Investment Advisor L.L.C. acquired a new position in shares of Rent-A-Center during the 2nd quarter worth approximately $169,000. Arizona State Retirement System raised its stake in shares of Rent-A-Center by 1.1% during the 1st quarter. Arizona State Retirement System now owns 27,700 shares of the company’s stock worth $246,000 after buying an additional 300 shares during the period. Finally, Wedbush Securities Inc. raised its stake in shares of Rent-A-Center by 28.8% during the 2nd quarter. Wedbush Securities Inc. now owns 21,217 shares of the company’s stock worth $249,000 after buying an additional 4,750 shares during the period.
Several research analysts have recently weighed in on RCII shares. Loop Capital reaffirmed a “sell” rating and set a $8.00 target price on shares of Rent-A-Center in a research note on Tuesday, July 18th. BidaskClub cut Rent-A-Center from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th. Jefferies Group LLC reiterated a “hold” rating and set a $12.00 price target on shares of Rent-A-Center in a research report on Thursday, September 7th. Stifel Nicolaus reiterated a “hold” rating and set a $10.50 price target on shares of Rent-A-Center in a research report on Wednesday. Finally, Zacks Investment Research upgraded Rent-A-Center from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $11.21.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, October 30th. The company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.07). Rent-A-Center had a negative return on equity of 0.66% and a negative net margin of 6.35%. The company had revenue of $643.97 million during the quarter, compared to analyst estimates of $649.09 million. During the same period last year, the firm earned $0.11 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last 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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