Royal Bank of Canada cut its stake in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 3.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,787 shares of the company’s stock after selling 374 shares during the quarter. Royal Bank of Canada’s holdings in Rent-A-Center were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Westfield Capital Management Co. LP purchased a new stake in Rent-A-Center in the 2nd quarter worth approximately $326,000. JPMorgan Chase & Co. lifted its holdings in Rent-A-Center by 1,124.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock worth $14,405,000 after buying an additional 1,128,785 shares during the period. Pinebridge Investments L.P. lifted its holdings in Rent-A-Center by 13.2% in the 2nd quarter. Pinebridge Investments L.P. now owns 81,797 shares of the company’s stock worth $959,000 after buying an additional 9,569 shares during the period. Rafferty Asset Management LLC purchased a new stake in Rent-A-Center in the 2nd quarter worth approximately $5,376,000. Finally, Numeric Investors LLC purchased a new stake in Rent-A-Center in the 2nd quarter worth approximately $1,551,000.

RCII has been the subject of several research analyst reports. BidaskClub cut Rent-A-Center from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 17th. Jefferies Group reiterated a “hold” rating and issued a $12.00 price objective on shares of Rent-A-Center in a report on Thursday, September 7th. Zacks Investment Research cut Rent-A-Center from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Stifel Nicolaus restated a “hold” rating and issued a $10.50 target price on shares of Rent-A-Center in a research note on Wednesday, November 1st. Finally, Loop Capital set a $8.00 target price on Rent-A-Center and gave the company a “sell” rating in a research note on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.21.

Rent-A-Center Inc. (NASDAQ:RCII) opened at $11.12 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 0.46 and a debt-to-equity ratio of 2.69. Rent-A-Center Inc. has a one year low of $7.76 and a one year high of $13.89.

Rent-A-Center (NASDAQ:RCII) last released its earnings results on Monday, October 30th. The company reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.07). The firm had revenue of $643.97 million during the quarter, compared to analysts’ expectations of $649.09 million. Rent-A-Center had a negative net margin of 6.35% and a negative return on equity of 0.66%. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. analysts anticipate that Rent-A-Center Inc. will post -0.19 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.dailypolitical.com/2017/11/29/royal-bank-of-canada-has-115000-position-in-rent-a-center-inc-rcii.html.

About Rent-A-Center

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.

Want to see what other hedge funds are holding RCII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rent-A-Center Inc. (NASDAQ:RCII).

Institutional Ownership by Quarter for Rent-A-Center (NASDAQ:RCII)

Receive News & Ratings for Rent-A-Center Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center Inc. and related companies with MarketBeat.com's FREE daily email newsletter.