Rhumbline Advisers raised its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,933 shares of the company’s stock after acquiring an additional 8,697 shares during the quarter. Rhumbline Advisers owned approximately 0.26% of Rent-A-Center worth $3,686,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. State of New Jersey Common Pension Fund D acquired a new position in shares of Rent-A-Center during the third quarter valued at approximately $2,130,000. Alberta Investment Management Corp grew its position in shares of Rent-A-Center by 28.6% in the third quarter. Alberta Investment Management Corp now owns 60,200 shares of the company’s stock valued at $1,553,000 after purchasing an additional 13,400 shares in the last quarter. 6 Meridian grew its position in shares of Rent-A-Center by 3.4% in the third quarter. 6 Meridian now owns 29,597 shares of the company’s stock valued at $763,000 after purchasing an additional 961 shares in the last quarter. Navellier & Associates Inc purchased a new stake in shares of Rent-A-Center in the third quarter valued at approximately $272,000. Finally, Hexavest Inc. purchased a new stake in shares of Rent-A-Center in the third quarter valued at approximately $529,000. 99.60% of the stock is owned by institutional investors and hedge funds.
RCII stock opened at $22.43 on Friday. The firm has a market capitalization of $1.34 billion, a PE ratio of 21.16 and a beta of 0.42. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.17. Rent-A-Center Inc has a 1 year low of $11.98 and a 1 year high of $28.25. The business has a 50 day simple moving average of $25.78 and a 200-day simple moving average of $25.55.
A number of equities research analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. ValuEngine lowered Rent-A-Center from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus set a $28.00 price target on Rent-A-Center and gave the company a “hold” rating in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Buy” and an average target price of $24.40.
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
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