Dupont Capital Management Corp reduces its position in Rent-A-Center, Inc. (NASDAQ:RCII)
Dupont Capital Management Corp reduced its position in Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) by 8.1% during the first quarter, HoldingsChannel reports. The company held 6,878 shares of the company after selling 609 shares during the quarter. Dupont Capital Management Corp’s holdings in Rent-A-Center were worth $173,000 when it last filed with the SEC.
Other large investors have also recently changed their holdings in the company. Citigroup Inc. increased its position in Rent-A-Center shares by 7.9% in the fourth quarter. Citigroup Inc. now owns 55,315 shares of the company valued at $2,657,000 after purchasing an additional 4,069 shares in the last quarter. CIBC Asset Management Inc. acquired a new stake in shares of Rent-A-Center in Q4 valued at approximately $264,000. Ieq Capital LLC purchased a new equity stake in Rent-A-Center in Q1 worth approximately $50,808,000. State of New Jersey Common Pension Fund D increased its position in Rent-A-Center shares by 43.7% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 61,769 shares of the company valued at $2,967,000 after buying 18,791 additional shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Rent-A-Center shares by 54.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,614 shares of the company valued at $366,000 after buying an additional 2,684 shares last quarter. 81.66% of the shares are held by hedge funds and other institutional investors.
Changes to analyst ratings
Several research analysts have recently released reports on the stock. Stephens cut Rent-A-Center shares from an “overweight” rating to an “equal weight” rating and set a target price of $42.00 for the company. in a report on Wednesday, June 29. StockNews.com cut Rent-A-Center shares from a “buy” rating to a “hold” rating in a Thursday, June 30 report. Two equity research analysts gave the stock a hold rating and four gave the stock a buy rating. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.75.
Rent-A-Center Inventory Performance
Shares of RCII opened at $21.90 on Tuesday. The company has a 50-day simple moving average of $23.69 and a 200-day simple moving average of $29.68. The company has a quick ratio of 0.73, a current ratio of 3.25 and a debt ratio of 2.68. The company has a market capitalization of $1.30 billion, a PE ratio of 17.11 and a beta of 1.65. Rent-A-Center, Inc. has a 52 week minimum of $18.88 and a 52 week maximum of $67.76.
Rent-A-Center (NASDAQ:RCII – Get Rating) last reported results on Wednesday, May 4. The company reported earnings per share of $0.74 for the quarter, beating the consensus estimate of $0.71 by $0.03. Rent-A-Center achieved a net margin of 1.87% and a return on equity of 48.47%. The company posted revenue of $1.13 billion in the quarter, versus a consensus estimate of $1.11 billion. During the same period last year, the company posted EPS of $1.32. The company’s revenue for the quarter increased 9.4% year over year. Equity research analysts predict Rent-A-Center, Inc. will post 4.6 earnings per share for the current fiscal year.
Rent-A-Center Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 12. Investors of record on Tuesday, June 21 received a dividend of $0.34. The ex-dividend date was Friday, June 17. This represents an annualized dividend of $1.36 and a dividend yield of 6.21%. Rent-A-Center’s dividend payout ratio is currently 106.25%.
Insider buying and selling
Separately, director Jeffrey J. Brown purchased 1,223 shares of the company in a transaction that took place on Tuesday, July 12. The shares were acquired at an average cost of $20.69 per share, with a total value of $25,303.87. Following completion of the transaction, the director now owns 75,669 shares of the company, valued at $1,565,591.61. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Company insiders own 1.50% of the company’s shares.
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Rent-A-Center, Inc., together with its subsidiaries, rents household durable goods to customers on a lease-to-own basis. The Company operates in four segments: Rent-A-Center Business, Acima, Mexico and Franchising. It offers furniture and accessories, household appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags and other accessories under lease- purchase.
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