Rent-A-Center Inc. (RCII) Stake Lowered by Legal & General Group Plc
Legal & General Group Plc trimmed its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 12.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,617 shares of the company’s stock after selling 28,406 shares during the period. Legal & General Group Plc owned about 0.38% of Rent-A-Center worth $2,363,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Mason Street Advisors LLC raised its stake in shares of Rent-A-Center by 7.1% during the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock valued at $110,000 after acquiring an additional 825 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Rent-A-Center by 77.1% during the second quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock valued at $122,000 after acquiring an additional 4,548 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Rent-A-Center during the first quarter valued at about $130,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Rent-A-Center by 3.6% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock valued at $147,000 after acquiring an additional 440 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Rent-A-Center during the first quarter valued at about $154,000.
RCII has been the subject of several recent analyst reports. BidaskClub raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $12.00 price objective on shares of Rent-A-Center in a research note on Thursday, September 7th. Zacks Investment Research raised shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $13.00 price objective (up from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Finally, Loop Capital reaffirmed a “sell” rating and set a $8.00 price objective on shares of Rent-A-Center in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.50.
Rent-A-Center Inc. (NASDAQ:RCII) opened at 10.87 on Friday. Rent-A-Center Inc. has a 12 month low of $7.76 and a 12 month high of $13.89. The company’s 50 day moving average is $12.67 and its 200 day moving average is $11.46. The stock’s market cap is $579.38 million.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Rent-A-Center had a negative net margin of 5.57% and a positive return on equity of 3.87%. The company had revenue of $667.64 million for the quarter, compared to the consensus estimate of $667.04 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, analysts anticipate that Rent-A-Center Inc. will post $0.06 EPS for the current fiscal year.
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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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