Point72 Hong Kong Ltd Decreases Stock Holdings in Rent-A-Center, Inc. (NASDAQ:RCII)

Point72 Hong Kong Ltd decreased its stake in shares of Rent-A-Center, Inc. (NASDAQ:RCII) by 42.6% during the first quarter, HoldingsChannel reports. The firm owned 712 shares of the company’s stock after selling 528 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Rent-A-Center were worth $41,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC raised its holdings in shares of Rent-A-Center by 1.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 99,500 shares of the company’s stock valued at $3,810,000 after purchasing an additional 1,422 shares during the last quarter. Credit Suisse AG boosted its position in shares of Rent-A-Center by 0.3% during the fourth quarter. Credit Suisse AG now owns 63,509 shares of the company’s stock worth $2,433,000 after acquiring an additional 220 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Rent-A-Center by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 29,143 shares of the company’s stock valued at $1,116,000 after purchasing an additional 1,273 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Rent-A-Center by 17.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,735 shares of the company’s stock valued at $1,598,000 after purchasing an additional 6,107 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of Rent-A-Center in the fourth quarter valued at $280,000. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. Raymond James raised their target price on shares of Rent-A-Center from $65.00 to $70.00 and gave the company a “strong-buy” rating in a research report on Friday, May 7th. Loop Capital lifted their target price on shares of Rent-A-Center from $65.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 3rd. Finally, Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating and set a $64.00 price target for the company. in a research report on Thursday, May 27th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Rent-A-Center currently has a consensus rating of “Buy” and a consensus price target of $66.60.

In related news, CFO Maureen B. Short sold 22,725 shares of Rent-A-Center stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $65.01, for a total transaction of $1,477,352.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Catherine M. Skula sold 2,849 shares of Rent-A-Center stock in a transaction dated Wednesday, May 26th. The stock was sold at an average price of $59.85, for a total value of $170,512.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,694 shares of company stock valued at $3,393,579. Corporate insiders own 0.80% of the company’s stock.

Shares of NASDAQ:RCII opened at $54.84 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.79 and a quick ratio of 0.56. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.71 and a beta of 1.51. The stock’s 50-day simple moving average is $56.65. Rent-A-Center, Inc. has a 1 year low of $27.05 and a 1 year high of $66.70.

Rent-A-Center (NASDAQ:RCII) last released its earnings results on Tuesday, May 4th. The company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.20. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $961.23 million. Rent-A-Center had a net margin of 6.39% and a return on equity of 41.79%. As a group, equities analysts forecast that Rent-A-Center, Inc. will post 5.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 13th. Stockholders of record on Tuesday, June 22nd were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, June 21st. Rent-A-Center’s payout ratio is currently 35.13%.

About Rent-A-Center

Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.

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Institutional Ownership by Quarter for Rent-A-Center (NASDAQ:RCII)

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