Water Island Capital LLC reduced its stake in Rent-A-Center Inc (NASDAQ:RCII) by 77.7% during the first quarter, Holdings Channel reports. The fund owned 204,610 shares of the company’s stock after selling 714,010 shares during the quarter. Water Island Capital LLC’s holdings in Rent-A-Center were worth $1,766,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ellington Management Group LLC bought a new stake in shares of Rent-A-Center in the 4th quarter worth about $208,000. Arlington Value Capital LLC increased its holdings in shares of Rent-A-Center by 32.6% in the 4th quarter. Arlington Value Capital LLC now owns 4,070,422 shares of the company’s stock worth $45,181,000 after buying an additional 1,000,103 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of Rent-A-Center in the 4th quarter worth about $172,000. Two Sigma Investments LP increased its holdings in shares of Rent-A-Center by 367.2% in the 4th quarter. Two Sigma Investments LP now owns 84,316 shares of the company’s stock worth $936,000 after buying an additional 66,267 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Rent-A-Center in the 4th quarter worth about $2,775,000.

Rent-A-Center opened at $9.98 on Thursday, Marketbeat Ratings reports. Rent-A-Center Inc has a 12 month low of $7.22 and a 12 month high of $13.89. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.51 and a quick ratio of 0.58. The stock has a market cap of $552.31 million, a P/E ratio of -18.48 and a beta of 0.69.

Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, April 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.16). Rent-A-Center had a negative return on equity of 13.81% and a negative net margin of 0.24%. The firm had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $701.27 million. During the same period in the prior year, the firm posted $0.04 earnings per share. Rent-A-Center’s revenue for the quarter was down 5.9% on a year-over-year basis. research analysts expect that Rent-A-Center Inc will post 0.09 earnings per share for the current year.

A number of research firms have recently weighed in on RCII. ValuEngine downgraded shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. BidaskClub downgraded shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a report on Thursday, February 22nd. Loop Capital restated a “sell” rating and issued a $6.00 target price (down from $8.00) on shares of Rent-A-Center in a report on Wednesday, February 21st. Jefferies Group restated a “hold” rating and issued a $10.00 target price on shares of Rent-A-Center in a report on Wednesday, April 11th. Finally, Stifel Nicolaus reduced their target price on shares of Rent-A-Center from $10.50 to $9.00 and set a “hold” rating on the stock in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Rent-A-Center has a consensus rating of “Hold” and an average price target of $9.20.

Rent-A-Center Profile

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; and furniture, including accessories under rental purchase agreements.

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