Rent-A-Center, Inc. (NASDAQ:RCII) Stake reduced by Texas Permanent School Fund
The Texas Permanent School Fund reduced its holdings in Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) by 2.1% during the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission . The institutional investor held 42,878 shares of the company after selling 917 shares during the quarter. The Texas Permanent School Fund held approximately 0.07% of Rent-A-Center worth $1,080,000 when it last filed with the SEC.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. CWM LLC purchased a new stake in Rent-A-Center in the fourth quarter worth approximately $92,000. Gladius Capital Management LP purchased a new stake in Rent-A-Center in the fourth quarter worth approximately $142,000. Capital Advisory Group Advisory Services LLC purchased a new stake in Rent-A-Center in the first quarter worth approximately $81,000. Steward Partners Investment Advisory LLC increased its position in Rent-A-Center by 672.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 3,555 shares of the company worth $90,000 after acquiring 3,095 additional shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Rent-A-Center by 46.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,937 shares of the company worth $189,000 after purchasing an additional 1,252 shares during the period. 81.66% of the shares are currently held by institutional investors.
Wall Street analysts predict growth
RCII has been the subject of several recent analyst reports. Stephens downgraded Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a price target of $42.00 on the stock. in a report on Wednesday, June 29. KeyCorp cut its price target on Rent-A-Center from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, Aug. 5 report. Finally, StockNews.com downgraded Rent-A-Center from a “buy” rating to a “hold” rating in a Tuesday, August 2 report. Two analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat.com, Rent-A-Center currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.
Insider Activity at Rent-A-Center
Separately, director Jeffrey J. Brown purchased 1,223 shares in a trade that took place on Tuesday, July 12. The shares were acquired at an average price of $20.69 per share, with a total value of $25,303.87. Following the purchase, the administrator now owns 75,669 shares of the company, valued at approximately $1,565,591.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. 11.00% of the shares are currently held by insiders of the company.
Rent-A-Center Price Performance
Shares of RCII opened at $30.00 on Tuesday. The company has a market capitalization of $1.78 billion, a price-earnings ratio of 42.25 and a beta of 1.67. Rent-A-Center, Inc. has a fifty-two week minimum of $18.88 and a fifty-two week maximum of $67.76. The company has a debt ratio of 2.45, a current ratio of 3.37 and a quick ratio of 0.83. The company’s 50-day moving average is $23.36 and its 200-day moving average is $26.96.
Rent-A-Center (NASDAQ:RCII – Get Rating) last released its results on Wednesday, August 3. The company reported earnings per share of $1.15 for the quarter, beating consensus analyst estimates of $1.02 by $0.13. Rent-A-Center had a return on equity of 46.90% and a net margin of 1.02%. During the same period a year earlier, the company posted EPS of $1.63. Equity research analysts expect Rent-A-Center, Inc. to post EPS of 4.2 for the current fiscal year.
Rent-A-Center Dividend Announcement
The company also recently declared 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 4.53%. Rent-A-Center’s payout ratio is 191.55%.
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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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