Westfield Capital Management Co. LP Buys Shares of 27,800 Rent-A-Center Inc. (RCII)
Westfield Capital Management Co. LP bought a new position in Rent-A-Center Inc. (NASDAQ:RCII) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 27,800 shares of the company’s stock, valued at approximately $326,000. Westfield Capital Management Co. LP owned 0.05% of Rent-A-Center as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in RCII. Engaged Capital LLC raised its holdings in Rent-A-Center by 290.2% in the 1st quarter. Engaged Capital LLC now owns 8,983,609 shares of the company’s stock worth $79,685,000 after purchasing an additional 6,681,233 shares during the period. Nomura Holdings Inc. raised its holdings in Rent-A-Center by 11,161.3% in the 1st quarter. Nomura Holdings Inc. now owns 1,925,688 shares of the company’s stock worth $17,122,000 after purchasing an additional 1,908,588 shares during the period. FMR LLC bought a new position in Rent-A-Center in the 1st quarter worth $10,676,000. Blackstone Group L.P. bought a new position in Rent-A-Center in the 1st quarter worth $10,560,000. Finally, JPMorgan Chase & Co. raised its holdings in Rent-A-Center by 1,124.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock worth $14,405,000 after purchasing an additional 1,128,785 shares during the period.
Shares of Rent-A-Center Inc. (RCII) opened at 12.16 on Wednesday. The company’s market capitalization is $648.14 million. The firm’s 50-day moving average price is $12.67 and its 200-day moving average price is $11.46. Rent-A-Center Inc. has a 12-month low of $7.76 and a 12-month high of $13.89.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). The firm had revenue of $667.64 million during the quarter, compared to analyst estimates of $667.04 million. Rent-A-Center had a positive return on equity of 3.87% and a negative net margin of 5.57%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. On average, analysts expect that Rent-A-Center Inc. will post $0.06 EPS for the current fiscal year.
A number of brokerages recently commented on RCII. Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub raised Rent-A-Center from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.00 target price on shares of Rent-A-Center in a report on Thursday, September 7th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $13.00 target price (up from $11.50) on shares of Rent-A-Center in a report on Friday, July 28th. Finally, Loop Capital reaffirmed a “sell” rating and issued a $8.00 target price on shares of Rent-A-Center in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $11.50.
Rent-A-Center Company Profile
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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