Investors Sell Rent-A-Center Inc. (RCII) on Strength (RCII)
Investors sold shares of Rent-A-Center Inc. (NASDAQ:RCII) on strength during trading on Tuesday. $6.60 million flowed into the stock on the tick-up and $16.11 million flowed out of the stock on the tick-down, for a money net flow of $9.51 million out of the stock. Of all stocks tracked, Rent-A-Center had the 0th highest net out-flow for the day. Rent-A-Center traded up $0.74 for the day and closed at $11.43
RCII has been the topic of a number of research reports. Topeka Capital Markets initiated coverage on shares of Rent-A-Center in a report on Monday, May 23rd. They set a “buy” rating and a $27.00 target price on the stock. Zacks Investment Research raised shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Rent-A-Center currently has a consensus rating of “Buy” and a consensus target price of $22.72.
The stock has a 50-day moving average price of $12.38 and a 200 day moving average price of $13.23. The stock’s market cap is $606.83 million.
Rent-A-Center (NASDAQ:RCII) last announced its 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. The company had revenue of $749.60 million for the quarter, compared to analyst estimates of $782.12 million. Rent-A-Center’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. Analysts forecast that Rent-A-Center Inc. will post $1.74 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 21st. Investors of record on Tuesday, July 5th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, June 30th.
In related news, CEO Robert Dale Davis bought 10,000 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were acquired at an average cost 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 approximately $1,433,209.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Other large investors recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Rent-A-Center by 771.4% in the fourth quarter. Bank of Montreal Can now owns 66,824 shares of the company’s stock worth $1,000,000 after buying an additional 59,155 shares in the last quarter. KBC Group NV increased its stake in shares of Rent-A-Center by 283.9% in the fourth quarter. KBC Group NV now owns 71,837 shares of the company’s stock worth $1,075,000 after buying an additional 53,124 shares in the last quarter. CNA Financial Corp increased its stake in shares of Rent-A-Center by 93.3% in the fourth quarter. CNA Financial Corp now owns 73,050 shares of the company’s stock worth $1,093,000 after buying an additional 35,250 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Rent-A-Center by 156.5% in the fourth quarter. Trexquant Investment LP now owns 80,476 shares of the company’s stock worth $1,205,000 after buying an additional 49,096 shares in the last quarter. Finally, Lapides Asset Management LLC bought a new stake in shares of Rent-A-Center during the fourth quarter worth $1,340,000.
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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