Aaron’s Inc. (AAN) Stake Cut by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC lowered its position in Aaron’s Inc. (NYSE:AAN) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 549,763 shares of the company’s stock after selling 5,027 shares during the period. Wedge Capital Management L L P NC owned approximately 0.76% of Aaron’s worth $12,034,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in AAN. Teachers Advisors Inc. raised its position in shares of Aaron’s by 3.2% in the first quarter. Teachers Advisors Inc. now owns 56,992 shares of the company’s stock worth $1,430,000 after buying an additional 1,778 shares in the last quarter. AMP Capital Investors Ltd acquired a new position in shares of Aaron’s during the first quarter worth $253,000. Parametrica Management Ltd acquired a new position in shares of Aaron’s during the second quarter worth $256,000. Zebra Capital Management LLC raised its position in shares of Aaron’s by 30.7% in the first quarter. Zebra Capital Management LLC now owns 50,390 shares of the company’s stock worth $1,265,000 after buying an additional 11,835 shares in the last quarter. Finally, First Quadrant L P CA raised its position in shares of Aaron’s by 59.1% in the second quarter. First Quadrant L P CA now owns 33,100 shares of the company’s stock worth $725,000 after buying an additional 12,300 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Aaron’s Inc. (NYSE:AAN) traded down 0.04% during mid-day trading on Friday, hitting $22.76. The stock had a trading volume of 438,770 shares. Aaron’s Inc. has a 12-month low of $20.24 and a 12-month high of $38.85. The company has a 50 day moving average price of $24.75 and a 200 day moving average price of $24.50. The firm has a market cap of $1.66 billion, a P/E ratio of 12.43 and a beta of 0.23.
Aaron’s (NYSE:AAN) last announced its earnings results on Friday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $789.40 million for the quarter, compared to the consensus estimate of $809.16 million. Aaron’s had a return on equity of 11.01% and a net margin of 4.15%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. Equities analysts forecast that Aaron’s Inc. will post $2.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.44%. The ex-dividend date was Wednesday, August 31st. Aaron’s’s payout ratio is currently 5.43%.
Several research firms have weighed in on AAN. Zacks Investment Research raised Aaron’s from a “sell” rating to a “hold” rating in a report on Tuesday, October 4th. Jefferies Group began coverage on Aaron’s in a report on Thursday. They issued a “buy” rating and a $30.00 target price on the stock. Finally, TheStreet raised Aaron’s from a “hold” rating to a “buy” rating in a report on Thursday, September 1st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Aaron’s presently has a consensus rating of “Buy” and an average price target of $29.93.
In other Aaron’s news, Director Robert H. Yanker bought 40,000 shares of the business’s stock in a transaction on Friday, August 19th. The shares were purchased at an average price of $25.29 per share, with a total value of $1,011,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.12% of the company’s stock.
Aaron’s, Inc is a specialty retailer of furniture, consumer electronics, computers, appliances and household accessories. The Company’s operating segments include Sales and Lease Ownership, Progressive, HomeSmart, DAMI, Franchise, Manufacturing and Others. The Company’s store-based operations engage in the lease ownership and retail sale of a range of products, such televisions, computers, tablets, mobile phones, living room, dining room and bedroom furniture, mattresses, washers, dryers and refrigerators.
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