Oppenheimer & Co. Inc. purchased a new stake in Rent-A-Center Inc (NASDAQ:RCII) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,100 shares of the company’s stock, valued at approximately $242,000.
Several other large investors also recently bought and sold shares of the stock. Arizona State Retirement System increased its stake in Rent-A-Center by 0.7% during the second quarter. Arizona State Retirement System now owns 69,605 shares of the company’s stock worth $1,854,000 after acquiring an additional 491 shares during the last quarter. Piedmont Investment Advisors Inc. increased its stake in Rent-A-Center by 5.1% during the first quarter. Piedmont Investment Advisors Inc. now owns 11,112 shares of the company’s stock worth $232,000 after acquiring an additional 543 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Rent-A-Center by 4.1% during the second quarter. Crossmark Global Holdings Inc. now owns 15,080 shares of the company’s stock worth $402,000 after acquiring an additional 588 shares during the last quarter. Mason Street Advisors LLC increased its stake in Rent-A-Center by 4.3% during the first quarter. Mason Street Advisors LLC now owns 14,389 shares of the company’s stock worth $300,000 after acquiring an additional 595 shares during the last quarter. Finally, First Quadrant L P CA increased its stake in Rent-A-Center by 17.6% during the second quarter. First Quadrant L P CA now owns 5,111 shares of the company’s stock worth $136,000 after acquiring an additional 765 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.
RCII has been the subject of a number of research reports. Stifel Nicolaus set a $28.00 price objective on Rent-A-Center and gave the company a “hold” rating in a research note on Friday, September 6th. BidaskClub cut Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Tuesday, August 20th. ValuEngine raised Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. Janney Montgomery Scott raised Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Finally, Stephens raised Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 price objective for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.83.
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, beating the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $655.90 million during the quarter, compared to analyst estimates of $642.86 million. Rent-A-Center had a return on equity of 32.63% and a net margin of 4.40%. Rent-A-Center’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.47 earnings per share. As a group, sell-side analysts expect that Rent-A-Center Inc will post 2.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Monday, September 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 20th. This is a positive change from Rent-A-Center’s previous quarterly dividend of $0.08. This represents a $1.00 dividend on an annualized basis and a yield of 3.88%.
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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