Aaron’s, Inc. (AAN) Holdings Increased by Riverhead Capital Management LLC
Riverhead Capital Management LLC boosted its position in Aaron’s, Inc. (NYSE:AAN) by 70.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,930 shares of the company’s stock after purchasing an additional 1,630 shares during the quarter. Riverhead Capital Management LLC’s holdings in Aaron’s, were worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Aaron’s, by 14,081.2% in the 1st quarter. BlackRock Inc. now owns 6,938,700 shares of the company’s stock valued at $206,356,000 after purchasing an additional 6,889,771 shares during the period. Vanguard Group Inc. grew its position in shares of Aaron’s, by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after purchasing an additional 361,856 shares in the last quarter. AJO LP grew its position in shares of Aaron’s, by 267.0% during the 2nd quarter. AJO LP now owns 1,468,601 shares of the company’s stock valued at $57,129,000 after purchasing an additional 1,068,399 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Aaron’s, by 22.8% during the 1st quarter. AQR Capital Management LLC now owns 955,398 shares of the company’s stock valued at $28,414,000 after purchasing an additional 177,693 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Aaron’s, by 223.7% during the 2nd quarter. Principal Financial Group Inc. now owns 906,077 shares of the company’s stock valued at $35,246,000 after purchasing an additional 626,128 shares in the last quarter. Institutional investors and hedge funds own 99.83% of the company’s stock.
Shares of Aaron’s, Inc. (AAN) opened at 43.81 on Tuesday. The company has a market capitalization of $3.10 billion, a P/E ratio of 22.51 and a beta of 0.21. The stock’s 50 day moving average is $42.63 and its 200-day moving average is $38.04. Aaron’s, Inc. has a 12-month low of $22.37 and a 12-month high of $48.22.
Aaron’s, (NYSE:AAN) last released its earnings results on Friday, July 28th. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.10. Aaron’s, had a return on equity of 12.00% and a net margin of 4.36%. The firm had revenue of $815.60 million during the quarter, compared to analysts’ expectations of $786.12 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Aaron’s, Inc. will post $2.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were issued a $0.027 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.11 dividend on an annualized basis and a yield of 0.25%. Aaron’s, ‘s dividend payout ratio is presently 5.64%.
A number of equities research analysts recently issued reports on the company. Off Wall Street assumed coverage on Aaron’s, in a research report on Monday, September 18th. They issued a “sell” rating on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Aaron’s, in a research note on Sunday, July 30th. Stifel Nicolaus restated a “buy” rating and set a $55.00 target price on shares of Aaron’s, in a research report on Friday, September 1st. BidaskClub cut Aaron’s, from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 7th. Finally, Northcoast Research restated a “buy” rating and issued a $52.50 target price (up from $45.00) on shares of Aaron’s, in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $44.94.
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In related news, insider Robert P. Sinclair, Jr. sold 1,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $45.00, for a total transaction of $45,000.00. Following the completion of the transaction, the insider now directly owns 11,469 shares of the company’s stock, valued at $516,105. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven A. Michaels sold 5,000 shares of Aaron’s, stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $46.26, for a total transaction of $231,300.00. Following the completion of the sale, the chief financial officer now owns 61,095 shares in the company, valued at $2,826,254.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,776 shares of company stock worth $2,742,507. 1.93% of the stock is owned by insiders.
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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