Qube Research & Technologies Ltd increased its stake in the shares of Rent-A-Center, Inc. (NASDAQ:RCII – Get a rating) by 490.0% in the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 27,212 shares of the company after purchasing an additional 22,600 shares during the period. Qube Research & Technologies Ltd’s holdings in Rent-A-Center were worth $685,000 when it was last filed with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of RCII. Kendall Capital Management increased its position in shares of Rent-A-Center by 22.4% during the first quarter. Kendall Capital Management now owns 36,465 shares of the company worth $919,000 after purchasing an additional 6,680 shares last quarter. KBC Group NV increased its position in Rent-A-Center shares by 187.9% during the first quarter. KBC Group NV now owns 53,097 shares in the company worth $1,338,000 after purchasing an additional 34,652 shares last quarter. Russell Investments Group Ltd. increased its position in Rent-A-Center shares by 56.7% during the first quarter. Russell Investments Group Ltd. now owns 39,363 shares of the company worth $990,000 after purchasing an additional 14,248 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Rent-A-Center by 4.7% during the first quarter. SummerHaven Investment Management LLC now owns 16,832 shares of the company worth $424,000 after purchasing an additional 752 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Rent-A-Center shares by 1,220.7% during the first quarter. Victory Capital Management Inc. now owns 270,330 shares of the company worth $6,520,000 after purchasing an additional 249,861 shares in the last quarter. 81.66% of the shares are held by hedge funds and other institutional investors.
A Wall Street analyst gives his opinion
RCII has been the subject of a number of research analyst reports. StockNews.com upgraded Rent-A-Center from a “buy” rating to a “hold” rating in a Tuesday, Aug. 2 research report. KeyCorp lowered its price target on Rent-A-Center from $44.00 to $41.00 and set an “overweight” rating on the stock in a Friday, Aug. 5 research report. Finally, Stephens downgraded Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a price target of $42.00 for the stock. in a Wednesday, June 29 research report. Two analysts gave the stock a hold rating and three gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.
Rent-A-Center Inventory Performance
Shares of RCII stock opened at $28.99 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of 40.83 and a beta of 1.67. Rent-A-Center, Inc. has a 52 week minimum of $18.88 and a 52 week maximum of $67.76. The stock’s 50-day moving average price is $23.67 and its 200-day moving average price is $26.74. The company has a quick ratio of 0.83, a current ratio of 3.37 and a debt ratio of 2.45.
Rent-A-Center (NASDAQ:RCII – Get a rating) last reported results on Wednesday, August 3. The company reported earnings per share (EPS) of $1.15 for the quarter, beating the consensus estimate of $1.02 by $0.13. Rent-A-Center had a return on equity of 46.90% and a net margin of 1.02%. In the same quarter a year earlier, the company posted EPS of $1.63. As a group, equity research analysts expect Rent-A-Center, Inc. to post EPS of 4.2 for the current year.
Rent-A-Center Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 12. Shareholders of record on Tuesday, June 21 received a dividend of $0.34 per share. This represents an annualized dividend of $1.36 and a yield of 4.69%. The ex-dividend date was Friday, June 17. Rent-A-Center’s payout ratio is 191.55%.
Insiders place their bets
In other Rent-A-Center news, Director Jeffrey J. Brown bought 1,223 shares of the company in a trade on Tuesday, July 12. The shares were purchased at an average price of $20.69 per share, for a total transaction of $25,303.87. Following the transaction, the director now owns 75,669 shares of the company, valued at approximately $1,565,591.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. 11.00% of the shares are currently held by insiders.
Rent-A-Center, Inc., together with its subsidiaries, rents household durable goods to customers on a lease-to-own basis. The Company operates in four segments: Rent-A-Center Business, Acima, Mexico and Franchising. It offers furniture and accessories, household appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags and other accessories under lease- purchase.
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