Rent-A-Center Inc. (NASDAQ:RCII) dropped 3.1% during trading on Friday . The stock traded as low as $12.22 and last traded at $12.38, with a volume of 253,222 shares changing hands. The stock had previously closed at $12.77.

RCII has been the subject of several recent research reports. Topeka Capital Markets initiated coverage on Rent-A-Center in a report on Monday, May 23rd. They issued a “buy” rating and a $27.00 price target for the company. Zacks Investment Research cut Rent-A-Center from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Rent-A-Center presently has an average rating of “Buy” and an average price target of $22.72.

The firm has a 50-day moving average of $12.54 and a 200 day moving average of $13.24. The firm’s market capitalization is $652.26 million.

Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.08. The firm earned $749.60 million during the quarter, compared to analyst estimates of $782.12 million. Rent-A-Center’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. Equities research analysts anticipate that Rent-A-Center Inc. will post $1.73 EPS for the current fiscal year.

In other news, CEO Robert Dale Davis purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were acquired at an average price of $10.87 per share, with a total value of $108,700.00. Following the purchase, the chief executive officer now directly owns 131,850 shares of the company’s stock, valued at $1,433,209.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

A hedge fund recently raised its stake in Rent-A-Center stock. Trexquant Investment LP increased its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 156.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,476 shares of the company’s stock after buying an additional 49,096 shares during the period. Trexquant Investment LP owned approximately 0.15% of Rent-A-Center worth $1,205,000 at the end of the most recent quarter.

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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