Teachers Retirement System of The State of Kentucky maintained its position in shares of Rent-A-Center Inc. (NASDAQ:RCII) during the first quarter, Holdings Channel reports. The fund owned 14,300 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Rent-A-Center were worth $127,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Rent-A-Center by 3.2% in the first quarter. Vanguard Group Inc. now owns 7,115,980 shares of the company’s stock worth $63,118,000 after buying an additional 223,478 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in shares of Rent-A-Center by 7.4% in the first quarter. Frontier Capital Management Co. LLC now owns 3,174,144 shares of the company’s stock worth $28,155,000 after buying an additional 217,842 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Rent-A-Center by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,276,061 shares of the company’s stock worth $20,190,000 after buying an additional 23,437 shares during the last quarter. Brandes Investment Partners LP increased its position in shares of Rent-A-Center by 5.9% in the first quarter. Brandes Investment Partners LP now owns 2,023,427 shares of the company’s stock worth $17,948,000 after buying an additional 113,195 shares during the last quarter. Finally, Nomura Holdings Inc. increased its position in shares of Rent-A-Center by 11,161.3% in the first quarter. Nomura Holdings Inc. now owns 1,925,688 shares of the company’s stock worth $17,122,000 after buying an additional 1,908,588 shares during the last quarter.
Rent-A-Center Inc. (RCII) traded up 1.05% on Friday, hitting $12.50. The stock had a trading volume of 310,263 shares. Rent-A-Center Inc. has a 1-year low of $7.76 and a 1-year high of $13.89. The firm’s 50-day moving average price is $12.62 and its 200-day moving average price is $10.84. The firm’s market cap is $666.26 million.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Wednesday, July 26th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.08. Rent-A-Center had a negative net margin of 5.57% and a negative return on equity of 43.47%. The business had revenue of $667.64 million for the quarter, compared to analyst estimates of $667.04 million. During the same period in the prior year, the business earned $0.41 earnings per share. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, equities research analysts predict that Rent-A-Center Inc. will post $0.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 20th. Investors of record on Monday, July 3rd were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.59%.
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RCII has been the subject of a number of recent research reports. Loop Capital restated a “sell” rating and set a $8.00 price objective on shares of Rent-A-Center in a research note on Tuesday, July 18th. BidaskClub downgraded Rent-A-Center from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research downgraded Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC lowered their price objective on Rent-A-Center from $12.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, May 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $13.00 price objective (up from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Rent-A-Center has a consensus rating of “Hold” and a consensus target price of $11.00.
In other Rent-A-Center news, Director Steven L. Pepper purchased 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was purchased at an average cost of $10.93 per share, with a total value of $491,850.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 3.40% of the company’s stock.
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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