Rent-A-Center Inc. (RCII) Stake Lifted by Pinebridge Investments L.P.
Pinebridge Investments L.P. grew its holdings in Rent-A-Center Inc. (NASDAQ:RCII) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,797 shares of the company’s stock after purchasing an additional 9,569 shares during the quarter. Pinebridge Investments L.P. owned about 0.15% of Rent-A-Center worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in RCII. Teachers Advisors LLC lifted its stake in shares of Rent-A-Center by 14.1% in the 4th quarter. Teachers Advisors LLC now owns 95,214 shares of the company’s stock valued at $1,071,000 after purchasing an additional 11,761 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Rent-A-Center by 331.8% in the 1st quarter. Wells Fargo & Company MN now owns 168,780 shares of the company’s stock valued at $1,497,000 after purchasing an additional 129,688 shares during the period. Comerica Bank lifted its stake in shares of Rent-A-Center by 4.0% in the 1st quarter. Comerica Bank now owns 58,681 shares of the company’s stock valued at $644,000 after purchasing an additional 2,264 shares during the period. Karp Capital Management Corp acquired a new position in shares of Rent-A-Center in the 1st quarter valued at about $312,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Rent-A-Center by 4.1% in the 1st quarter. Ameriprise Financial Inc. now owns 317,528 shares of the company’s stock valued at $2,817,000 after purchasing an additional 12,618 shares during the period.
A number of research analysts have recently issued reports on the company. Zacks Investment Research raised Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. BidaskClub raised Rent-A-Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Stifel Nicolaus reissued a “hold” rating and issued a $13.00 price objective (up from $11.50) on shares of Rent-A-Center in a research note on Friday, July 28th. Jefferies Group LLC reissued a “hold” rating and issued a $12.00 price objective on shares of Rent-A-Center in a research note on Thursday, September 7th. Finally, Loop Capital reissued a “sell” rating and issued a $8.00 price objective on shares of Rent-A-Center in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.50.
Shares of Rent-A-Center Inc. (NASDAQ:RCII) opened at 11.53 on Friday. The company has a 50-day moving average price of $12.67 and a 200-day moving average price of $11.46. The company’s market capitalization is $614.56 million. Rent-A-Center Inc. has a 12 month low of $7.76 and a 12 month high of $13.89.
Rent-A-Center (NASDAQ:RCII) last posted its 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). The firm had revenue of $667.64 million for the quarter, compared to analysts’ expectations of $667.04 million. Rent-A-Center had a positive return on equity of 3.87% and a negative net margin of 5.57%. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts anticipate that Rent-A-Center Inc. will post $0.07 EPS for the current year.
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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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