Ameriprise Financial Inc. Cuts Position in Rent-A-Center Inc. (RCII)
Ameriprise Financial Inc. decreased its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 346,101 shares of the company’s stock after selling 40,056 shares during the period. Ameriprise Financial Inc. owned approximately 0.65% of Rent-A-Center worth $4,251,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Thompson Siegel & Walmsley LLC boosted its stake in shares of Rent-A-Center by 77.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,218,472 shares of the company’s stock worth $14,963,000 after buying an additional 533,388 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Rent-A-Center by 32.7% in the first quarter. BlackRock Fund Advisors now owns 3,318,496 shares of the company’s stock worth $52,598,000 after buying an additional 817,206 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rent-A-Center by 87.5% in the first quarter. Renaissance Technologies LLC now owns 808,210 shares of the company’s stock worth $12,810,000 after buying an additional 377,200 shares during the last quarter. Hancock Holding Co. acquired a new stake in shares of Rent-A-Center during the first quarter worth approximately $761,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Rent-A-Center by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 1,048,255 shares of the company’s stock worth $12,873,000 after buying an additional 20,056 shares during the last quarter. Institutional investors own 98.58% of the company’s stock.
Rent-A-Center Inc. (NASDAQ:RCII) traded up 0.89% during mid-day trading on Tuesday, reaching $9.05. 92,344 shares of the company’s stock traded hands. Rent-A-Center Inc. has a 12-month low of $8.00 and a 12-month high of $26.26. The company’s market cap is $480.70 million. The stock has a 50 day moving average of $12.06 and a 200 day moving average of $12.84.
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 Zacks’ consensus estimate of $0.49 by $0.08. The business had revenue of $749.60 million for the quarter, compared to analysts’ expectations 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 for the quarter was down 8.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. On average, equities research analysts predict that Rent-A-Center Inc. will post $1.73 earnings per share for the current fiscal year.
The firm 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 dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, September 29th. Rent-A-Center’s payout ratio is -1.93%.
A number of analysts recently commented on RCII shares. Zacks Investment Research upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. Jefferies Group started coverage on shares of Rent-A-Center in a research note on Thursday, October 13th. They set a “hold” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.90.
In other Rent-A-Center news, CEO Robert Dale Davis purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were bought 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 in the company, valued at $1,433,209.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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