Mason Street Advisors LLC bought a new position in Rent-A-Center Inc. (NASDAQ:RCII) during the second quarter, Holdings Channel reports. The fund bought 10,379 shares of the company’s stock, valued at approximately $127,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada boosted its position in Rent-A-Center by 1,135.2% in the second quarter. Royal Bank of Canada now owns 42,293 shares of the company’s stock worth $519,000 after buying an additional 38,869 shares during the period. Public Employees Retirement System of Ohio bought a new position in Rent-A-Center during the second quarter worth approximately $291,000. Sterling Capital Management LLC bought a new position in Rent-A-Center during the second quarter worth approximately $546,000. Schwab Charles Investment Management Inc. boosted its position in Rent-A-Center by 64.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,009,906 shares of the company’s stock worth $12,402,000 after buying an additional 396,139 shares during the period. Finally, Wedge Capital Management L L P NC boosted its position in Rent-A-Center by 7.0% in the second quarter. Wedge Capital Management L L P NC now owns 17,922 shares of the company’s stock worth $220,000 after buying an additional 1,167 shares during the period. 98.58% of the stock is owned by hedge funds and other institutional investors.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at 8.93 on Monday. The firm’s market cap is $474.33 million. Rent-A-Center Inc. has a 52-week low of $8.00 and a 52-week high of $26.26. The firm’s 50-day moving average is $12.16 and its 200-day moving average is $12.92.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.08. The company had revenue of $749.60 million for the quarter, compared to analysts’ expectations of $782.12 million. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 EPS. Analysts anticipate that Rent-A-Center Inc. will post $1.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Monday, October 3rd will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s payout ratio is -1.93%.
A number of brokerages recently issued reports on RCII. Zacks Investment Research lowered shares of Rent-A-Center from a “hold” rating to a “strong sell” rating in a report on Thursday. Jefferies Group began coverage on shares of Rent-A-Center in a report on Thursday. They issued a “hold” rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $20.90.
In other Rent-A-Center news, CEO Robert Dale Davis acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was bought at an average price of $10.87 per share, with a total value of $108,700.00. Following the completion of the acquisition, the chief executive officer now owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.40% of the company’s stock.
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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