Rent-A-Center Inc (RCII) Holdings Cut by Brandes Investment Partners LP
Brandes Investment Partners LP reduced its stake in shares of Rent-A-Center Inc (NASDAQ:RCII) by 42.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 514,405 shares of the company’s stock after selling 382,449 shares during the quarter. Brandes Investment Partners LP’s holdings in Rent-A-Center were worth $7,397,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Rent-A-Center by 4.5% during the second quarter. Northern Trust Corp now owns 593,701 shares of the company’s stock worth $8,739,000 after acquiring an additional 25,637 shares in the last quarter. Legal & General Group Plc raised its stake in Rent-A-Center by 3.8% during the second quarter. Legal & General Group Plc now owns 140,606 shares of the company’s stock worth $2,069,000 after acquiring an additional 5,117 shares in the last quarter. Perella Weinberg Partners Capital Management LP acquired a new position in Rent-A-Center during the second quarter worth $5,967,000. Renaissance Technologies LLC acquired a new position in Rent-A-Center during the second quarter worth $7,456,000. Finally, SG Americas Securities LLC raised its stake in Rent-A-Center by 3.0% during the third quarter. SG Americas Securities LLC now owns 451,291 shares of the company’s stock worth $6,490,000 after acquiring an additional 13,022 shares in the last quarter. Hedge funds and other institutional investors own 95.40% of the company’s stock.
Shares of RCII stock opened at $14.44 on Wednesday. The company has a current ratio of 2.56, a quick ratio of 0.66 and a debt-to-equity ratio of 1.90. The firm has a market cap of $773.82 million, a PE ratio of -26.74 and a beta of 0.60. Rent-A-Center Inc has a 52 week low of $7.22 and a 52 week high of $14.94.
RCII has been the subject of several recent analyst reports. Loop Capital reiterated a “sell” rating and set a $15.00 price objective on shares of Rent-A-Center in a research note on Tuesday, October 9th. ValuEngine upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, BidaskClub lowered Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Rent-A-Center presently has an average rating of “Hold” and a consensus target price of $11.80.
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Rent-A-Center Company 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.
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