Oppenheimer & Co. Inc. purchased a new stake in Rent-A-Center Inc (NASDAQ:RCII) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 9,100 shares of the company’s stock, valued at approximately $242,000.
A number of other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System increased its position in Rent-A-Center by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 69,605 shares of the company’s stock valued at $1,854,000 after acquiring an additional 491 shares during the period. Piedmont Investment Advisors Inc. increased its position in Rent-A-Center by 5.1% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,112 shares of the company’s stock valued at $232,000 after acquiring an additional 543 shares during the period. Crossmark Global Holdings Inc. increased its position in Rent-A-Center by 4.1% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,080 shares of the company’s stock valued at $402,000 after acquiring an additional 588 shares during the period. Mason Street Advisors LLC increased its position in Rent-A-Center by 4.3% in the 1st quarter. Mason Street Advisors LLC now owns 14,389 shares of the company’s stock valued at $300,000 after acquiring an additional 595 shares during the period. Finally, First Quadrant L P CA increased its position in Rent-A-Center by 17.6% in the 2nd quarter. First Quadrant L P CA now owns 5,111 shares of the company’s stock valued at $136,000 after acquiring an additional 765 shares during the period. Hedge funds and other institutional investors own 95.28% of the company’s stock.
NASDAQ RCII traded up $0.25 on Friday, hitting $25.75. 5,920 shares of the company’s stock were exchanged, compared to its average volume of 709,294. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.17. The firm’s 50-day moving average price is $25.93 and its two-hundred day moving average price is $24.00. Rent-A-Center Inc has a fifty-two week low of $11.98 and a fifty-two week high of $28.25. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 24.33 and a beta of 0.39.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Wednesday, August 7th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.04. Rent-A-Center had a return on equity of 32.63% and a net margin of 4.40%. The company had revenue of $655.90 million for the quarter, compared to analysts’ expectations of $642.86 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts predict that Rent-A-Center Inc will post 2.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Monday, September 23rd will be given a dividend of $0.25 per share. This is a boost from Rent-A-Center’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.00 annualized dividend and a yield of 3.88%.
Several equities analysts recently issued reports on RCII shares. Stephens upgraded Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 price target on the stock in a research report on Monday, June 24th. ValuEngine upgraded Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. Janney Montgomery Scott upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Stifel Nicolaus set a $28.00 target price on Rent-A-Center and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, BidaskClub cut Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.83.
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; wheels and tires; and furniture, including accessories under rental purchase agreements.
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