State Board of Administration of Florida Retirement System cut its stake in Rent-A-Center Inc. (NASDAQ:RCII) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,375 shares of the company’s stock after selling 682 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Rent-A-Center worth $533,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. A.R.T. Advisors LLC boosted its position in Rent-A-Center by 519.9% in the first quarter. A.R.T. Advisors LLC now owns 286,762 shares of the company’s stock valued at $4,545,000 after buying an additional 240,500 shares during the period. Envestnet Asset Management Inc. boosted its position in Rent-A-Center by 18.2% in the first quarter. Envestnet Asset Management Inc. now owns 246,098 shares of the company’s stock valued at $3,901,000 after buying an additional 37,940 shares during the period. Pinnacle Holdings LLC boosted its position in Rent-A-Center by 4.4% in the first quarter. Pinnacle Holdings LLC now owns 36,845 shares of the company’s stock valued at $584,000 after buying an additional 1,550 shares during the period. Renaissance Technologies LLC boosted its position in Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock valued at $12,810,000 after buying an additional 377,200 shares during the period. Finally, Hancock Holding Co. acquired a new stake in Rent-A-Center during the first quarter worth approximately $761,000. Hedge funds and other institutional investors own 98.58% of the company’s stock.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) traded down 2.29% during trading on Thursday, hitting $12.79. 266,954 shares of the stock traded hands. The firm has a 50-day moving average of $12.59 and a 200-day moving average of $13.13. The firm’s market capitalization is $679.35 million. Rent-A-Center Inc. has a 1-year low of $9.76 and a 1-year high of $26.26.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The business had revenue of $749.60 million for the quarter, compared to the consensus estimate of $782.12 million. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. Rent-A-Center’s revenue was down 8.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. On average, equities analysts forecast that Rent-A-Center Inc. will post $1.73 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Monday, October 3rd will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, September 29th. Rent-A-Center’s dividend payout ratio is presently -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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $22.72.
In other news, CEO Robert Dale Davis bought 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was acquired at an average price of $10.87 per share, with a total value of $108,700.00. Following the completion of the purchase, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.40% of the company’s stock.
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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