Swiss National Bank held its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,200 shares of the company’s stock at the end of the first quarter. Swiss National Bank owned 0.16% of Rent-A-Center worth $747,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. First Quadrant L P CA acquired a new stake in Rent-A-Center during the first quarter worth $356,000. Hollencrest Securities LLC acquired a new stake in Rent-A-Center during the first quarter worth $665,000. Louisiana State Employees Retirement System raised its stake in Rent-A-Center by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the company’s stock worth $192,000 after buying an additional 300 shares in the last quarter. Bank of Montreal Can raised its stake in Rent-A-Center by 7,016.1% in the first quarter. Bank of Montreal Can now owns 65,041 shares of the company’s stock worth $577,000 after buying an additional 64,127 shares in the last quarter. Finally, Creative Planning raised its stake in Rent-A-Center by 24.2% in the first quarter. Creative Planning now owns 47,716 shares of the company’s stock worth $423,000 after buying an additional 9,300 shares in the last quarter.
Shares of Rent-A-Center Inc. (NASDAQ RCII) traded up 0.98% during midday trading on Tuesday, reaching $13.44. 770,149 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $12.21 and a 200-day moving average of $10.55. The stock’s market capitalization is $716.37 million. 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 earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.08. The firm had revenue of $667.64 million during the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. Analysts anticipate that Rent-A-Center Inc. will post $0.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 20th. Shareholders of record on Monday, July 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.32 annualized dividend and a yield of 2.38%.
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A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus restated a “hold” rating and issued a $13.00 target price (up previously from $11.50) on shares of Rent-A-Center in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a report on Friday, July 28th. BidaskClub upgraded shares of Rent-A-Center from a “buy” rating to a “strong-buy” rating in a report on Saturday. Loop Capital restated a “sell” rating and issued a $8.00 target price on shares of Rent-A-Center in a report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. upgraded shares of Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a report on Wednesday, April 12th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Hold” and an average price target of $11.00.
In other news, Chairman Mark E. Speese bought 100,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was acquired at an average cost of $11.70 per share, with a total value of $1,170,000.00. Following the completion of the acquisition, the chairman now owns 844,627 shares of the company’s stock, valued at $9,882,135.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven L. Pepper bought 45,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average cost of $10.93 per share, with a total value of $491,850.00. The disclosure for this purchase can be found here. 3.40% of the stock is currently owned by insiders.
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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