Hotchkis & Wiley Capital Management LLC Has $7.89 Million Stake in Rent-A-Center Inc. (RCII)
Hotchkis & Wiley Capital Management LLC reduced its stake in shares of Rent-A-Center Inc. (NASDAQ:RCII) by 17.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 673,270 shares of the company’s stock after selling 137,800 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.26% of Rent-A-Center worth $7,891,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RCII. Mason Street Advisors LLC grew its holdings in shares of Rent-A-Center by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock worth $110,000 after purchasing an additional 825 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Rent-A-Center by 77.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 10,448 shares of the company’s stock worth $122,000 after purchasing an additional 4,548 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rent-A-Center during the 1st quarter worth $130,000. Municipal Employees Retirement System of Michigan grew its holdings in shares of Rent-A-Center by 3.6% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,550 shares of the company’s stock worth $147,000 after purchasing an additional 440 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Rent-A-Center during the 1st quarter worth $154,000.
Several analysts have recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and set a $12.00 target price on shares of Rent-A-Center in a report on Thursday, September 7th. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Stifel Nicolaus reissued a “hold” rating and set a $13.00 target price (up from $11.50) on shares of Rent-A-Center in a report on Friday, July 28th. Finally, Loop Capital reissued a “sell” rating and set a $8.00 target price on shares of Rent-A-Center in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Rent-A-Center presently has a consensus rating of “Hold” and an average target price of $11.50.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at 12.59 on Monday. The company has a 50-day moving average price of $12.73 and a 200 day moving average price of $11.38. Rent-A-Center Inc. has a 1-year low of $7.76 and a 1-year high of $13.89. The firm’s market capitalization is $671.06 million.
Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings data on Wednesday, July 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.08). Rent-A-Center had a negative net margin of 5.57% and a positive return on equity of 3.87%. The company had revenue of $667.64 million for the quarter, compared to the consensus estimate of $667.04 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities research analysts predict that Rent-A-Center Inc. will post $0.06 EPS for the current year.
Rent-A-Center Company Profile
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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