Emerald Acquisition Ltd. acquired a new position in shares of Rent-A-Center Inc. (NASDAQ:RCII) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,176 shares of the company’s stock, valued at approximately $727,000. Emerald Acquisition Ltd. owned about 0.11% of Rent-A-Center as of its most recent SEC filing.
Several other large investors have also made changes to their positions in RCII. 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. purchased a new position in Rent-A-Center during the first quarter valued at approximately $761,000. 9.58% of the stock is owned by institutional investors and hedge funds.
Rent-A-Center Inc. (NASDAQ:RCII) traded down 0.33% on Friday, hitting $8.93. 1,488,409 shares of the stock traded hands. Rent-A-Center Inc. has a 12-month low of $8.00 and a 12-month high of $26.26. The stock’s market cap is $474.33 million. The stock has a 50-day moving average price of $12.16 and a 200 day moving average price of $12.92.
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 analysts’ consensus estimates of $0.49 by $0.08. Rent-A-Center had a negative net margin of 27.93% and a positive return on equity of 14.03%. The company earned $749.60 million during the quarter, compared to the consensus estimate of $782.12 million. During the same period last year, the company earned $0.50 earnings per share. Rent-A-Center’s revenue for the quarter was down 8.1% on a year-over-year basis. On average, equities analysts expect that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Monday, October 3rd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s dividend payout ratio (DPR) is presently -1.93%.
Several research firms have commented on RCII. Zacks Investment Research cut shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Jefferies Group began coverage on shares of Rent-A-Center in a research report on Thursday. They issued a “hold” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.90.
In related news, CEO Robert Dale Davis purchased 10,000 shares of Rent-A-Center stock in a transaction on Monday, August 1st. The stock was purchased at an average cost of $10.87 per share, with a total value of $108,700.00. Following the acquisition, the chief executive officer now directly owns 131,850 shares in the company, valued at $1,433,209.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 3.40% of the stock is currently owned by company insiders.
Rent-A-Center Company Profile
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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