Rent-A-Center Inc. (RCII) Shares Bought by Convergence Investment Partners LLC
Convergence Investment Partners LLC increased its position in Rent-A-Center Inc. (NASDAQ:RCII) by 26.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,932 shares of the company’s stock after acquiring an additional 10,729 shares during the period. Convergence Investment Partners LLC owned about 0.10% of Rent-A-Center worth $596,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RCII. Arlington Value Capital LLC grew its holdings in shares of Rent-A-Center by 85.2% in the second quarter. Arlington Value Capital LLC now owns 2,722,514 shares of the company’s stock worth $31,907,000 after acquiring an additional 1,252,756 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Rent-A-Center by 1,124.8% in the second quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock worth $14,405,000 after acquiring an additional 1,128,785 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Rent-A-Center in the second quarter worth $5,376,000. State Street Corp grew its holdings in shares of Rent-A-Center by 19.2% in the first quarter. State Street Corp now owns 1,899,273 shares of the company’s stock worth $16,841,000 after acquiring an additional 305,946 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Rent-A-Center by 65.4% in the second quarter. GSA Capital Partners LLP now owns 438,150 shares of the company’s stock worth $5,135,000 after acquiring an additional 173,186 shares during the period.
RCII has been the subject of several research analyst reports. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 17th. Jefferies Group reissued a “hold” rating and set a $12.00 price target on shares of Rent-A-Center in a report on Thursday, September 7th. Zacks Investment Research raised Rent-A-Center from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Monday, October 2nd. Raymond James Financial reissued a “market perform” rating on shares of Rent-A-Center in a report on Wednesday, October 25th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $10.50 price target on shares of Rent-A-Center in a report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.21.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at $11.73 on Friday. Rent-A-Center Inc. has a fifty-two week low of $7.76 and a fifty-two week high of $13.89. The company has a quick ratio of 0.46, a current ratio of 2.55 and a debt-to-equity ratio of 2.69.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07). Rent-A-Center had a negative net margin of 6.35% and a negative return on equity of 0.66%. The company had revenue of $643.97 million for the quarter, compared to the consensus estimate of $649.09 million. During the same period in the prior year, the firm posted $0.11 EPS. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. equities analysts predict that Rent-A-Center Inc. will post -0.19 earnings per share for the current fiscal year.
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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