Vanguard Group Inc. Increases Position in Rent-A-Center Inc. (NASDAQ:RCII)
Vanguard Group Inc. boosted its stake in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 3.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,115,980 shares of the company’s stock after buying an additional 223,478 shares during the period. Vanguard Group Inc. owned 0.13% of Rent-A-Center worth $63,118,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Mason Street Advisors LLC boosted its stake in Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock valued at $110,000 after buying an additional 825 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Rent-A-Center during the first quarter valued at approximately $130,000. Wedbush Securities Inc. purchased a new stake in Rent-A-Center during the first quarter valued at approximately $146,000. Stevens Capital Management LP purchased a new stake in Rent-A-Center during the first quarter valued at approximately $154,000. Finally, Louisiana State Employees Retirement System boosted its stake in Rent-A-Center by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the company’s stock valued at $192,000 after buying an additional 300 shares during the period.
Rent-A-Center Inc. (RCII) traded down 0.37% on Monday, hitting $13.60. The stock had a trading volume of 30,583 shares. The company has a 50 day moving average of $12.10 and a 200 day moving average of $10.49. Rent-A-Center Inc. has a 12-month low of $7.76 and a 12-month high of $13.71. The company’s market capitalization is $724.89 million.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.08. The company had revenue of $667.64 million for the quarter, compared to analyst estimates of $667.04 million. Rent-A-Center had a negative return on equity of 43.47% and a negative net margin of 5.57%. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, equities analysts expect that Rent-A-Center Inc. will post $0.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Monday, July 3rd were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.34%.
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Several research firms have recently commented on RCII. Stifel Nicolaus reissued a “hold” rating and issued a $11.50 target price (up from $8.50) on shares of Rent-A-Center in a research note on Monday, April 17th. Raymond James Financial, Inc. raised Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research note on Wednesday, April 12th. BidaskClub raised Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Loop Capital reissued a “hold” rating and issued a $8.00 target price on shares of Rent-A-Center in a research note on Wednesday, April 12th. Finally, Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $11.00.
In related news, Director Steven L. Pepper acquired 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was acquired at an average cost of $10.93 per share, for a total transaction of $491,850.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark E. Speese acquired 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average price of $11.70 per share, with a total value of $1,170,000.00. Following the completion of the acquisition, the chairman now directly owns 844,627 shares of the company’s stock, valued at $9,882,135.90. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.
Rent-A-Center Company Profile
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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