Martingale Asset Management L P increased its position in shares of Aaron’s, Inc. (NYSE:AAN) by 4.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 229,380 shares of the company’s stock after buying an additional 10,200 shares during the period. Martingale Asset Management L P’s holdings in Aaron’s, were worth $6,822,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornercap Investment Counsel Inc. boosted its position in shares of Aaron’s, by 0.6% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 56,545 shares of the company’s stock worth $1,809,000 after buying an additional 340 shares during the period. South Texas Money Management Ltd. acquired a new stake in Aaron’s, during the third quarter valued at about $6,982,000. Teachers Advisors LLC boosted its stake in Aaron’s, by 14.5% in the fourth quarter. Teachers Advisors LLC now owns 453,416 shares of the company’s stock valued at $14,505,000 after buying an additional 57,440 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in Aaron’s, by 677.0% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 131,047 shares of the company’s stock valued at $3,331,000 after buying an additional 114,182 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Aaron’s, by 1.1% in the third quarter. Virginia Retirement Systems ET AL now owns 55,500 shares of the company’s stock valued at $1,411,000 after buying an additional 600 shares during the last quarter. 99.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aaron’s, Inc. (NYSE:AAN) opened at 39.42 on Friday. The firm’s 50-day moving average price is $36.90 and its 200 day moving average price is $31.96. Aaron’s, Inc. has a 52-week low of $20.51 and a 52-week high of $40.33. The company has a market capitalization of $2.79 billion, a PE ratio of 20.04 and a beta of 0.18.
Aaron’s, (NYSE:AAN) last issued its earnings results on Friday, April 28th. The company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.14. The business had revenue of $844.60 million for the quarter, compared to the consensus estimate of $830.44 million. Aaron’s, had a net margin of 4.47% and a return on equity of 11.81%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities analysts forecast that Aaron’s, Inc. will post $2.40 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Tuesday, June 27th will be paid a dividend of $0.0275 per share. The ex-dividend date is Friday, June 23rd. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. Aaron’s, ‘s dividend payout ratio is presently 5.58%.
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AAN has been the topic of several recent analyst reports. Jefferies Group LLC raised their target price on Aaron’s, from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Loop Capital reissued a “hold” rating and issued a $28.00 target price on shares of Aaron’s, in a research note on Sunday, April 23rd. Zacks Investment Research raised Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, May 2nd. Finally, TheStreet raised Aaron’s, from a “c+” rating to a “b-” rating in a research note on Monday, April 24th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Aaron’s, has a consensus rating of “Buy” and an average target price of $38.00.
In other Aaron’s, news, CAO Robert W. Kamerschen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $30.32, for a total value of $121,280.00. Following the completion of the sale, the chief accounting officer now directly owns 36,999 shares in the company, valued at $1,121,809.68. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven A. Michaels sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $28.81, for a total transaction of $288,100.00. Following the completion of the sale, the chief financial officer now owns 67,704 shares of the company’s stock, valued at $1,950,552.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,750 shares of company stock worth $1,542,268. Insiders own 1.93% of the company’s stock.
Aaron’s, Company Profile
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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