Swiss National Bank increased its stake in Rent-A-Center Inc. (NASDAQ:RCII) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,300 shares of the company’s stock after buying an additional 1,600 shares during the period. Swiss National Bank owned approximately 0.16% of Rent-A-Center worth $1,072,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in RCII. ClariVest Asset Management LLC acquired a new position in Rent-A-Center during the second quarter valued at approximately $105,000. Quantitative Systematic Strategies LLC raised its position in Rent-A-Center by 22.9% in the second quarter. Quantitative Systematic Strategies LLC now owns 13,356 shares of the company’s stock valued at $162,000 after buying an additional 2,491 shares during the last quarter. Societe Generale acquired a new position in Rent-A-Center during the second quarter valued at approximately $203,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Rent-A-Center during the first quarter valued at approximately $338,000. Finally, Creative Planning raised its position in Rent-A-Center by 29.0% in the second quarter. Creative Planning now owns 29,655 shares of the company’s stock valued at $364,000 after buying an additional 6,670 shares during the last quarter. Institutional investors and hedge funds own 98.58% of the company’s stock.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) traded up 0.87% during mid-day trading on Monday, reaching $12.75. 573,406 shares of the company’s stock traded hands. Rent-A-Center Inc. has a 1-year low of $9.76 and a 1-year high of $26.26. The company’s market capitalization is $677.23 million. The firm has a 50-day moving average price of $12.57 and a 200-day moving average price of $13.19.
Rent-A-Center (NASDAQ:RCII) last issued its quarterly 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 earned $749.60 million during the quarter, compared to analysts’ expectations of $782.12 million. Rent-A-Center had a positive return on equity of 14.03% and a negative net margin of 27.93%. The company’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. On average, equities research analysts forecast that Rent-A-Center Inc. will post $1.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.51%. Rent-A-Center’s dividend payout ratio is currently -1.93%.
Separately, Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Three 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. Rent-A-Center presently has an average rating of “Buy” and an average target price of $22.72.
In related news, CEO Robert Dale Davis purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were purchased at an average price of $10.87 per share, with a total value of $108,700.00. Following the purchase, the chief executive officer now owns 131,850 shares of the company’s stock, valued at approximately $1,433,209.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.40% of the stock is owned by corporate 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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