Ontario Teachers Pension Plan Board acquired a new position in Rent-A-Center Inc (NASDAQ:RCII) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 70,658 shares of the company’s stock, valued at approximately $1,475,000. Ontario Teachers Pension Plan Board owned approximately 0.13% of Rent-A-Center at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RCII. Meeder Asset Management Inc. raised its stake in Rent-A-Center by 117.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock valued at $27,000 after purchasing an additional 703 shares during the period. Bank of Montreal Can grew its holdings in Rent-A-Center by 105.6% during the 4th quarter. Bank of Montreal Can now owns 3,831 shares of the company’s stock valued at $62,000 after buying an additional 1,968 shares in the last quarter. First Quadrant L P CA purchased a new position in Rent-A-Center during the 1st quarter valued at approximately $91,000. Advisors Preferred LLC purchased a new position in Rent-A-Center during the 1st quarter valued at approximately $113,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rent-A-Center by 334.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,188 shares of the company’s stock valued at $150,000 after buying an additional 5,534 shares in the last quarter. Institutional investors and hedge funds own 95.26% of the company’s stock.
Several research firms have weighed in on RCII. ValuEngine cut Rent-A-Center from a “buy” rating to a “hold” rating in a report on Saturday, June 22nd. BidaskClub cut Rent-A-Center from a “buy” rating to a “hold” rating in a report on Monday, June 24th. Finally, TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.00.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.29. The company had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. Rent-A-Center’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) EPS. Sell-side analysts forecast that Rent-A-Center Inc will post 2.12 EPS for the current fiscal year.
In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of Rent-A-Center stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total transaction of $122,250.00. Following the completion of the sale, the executive vice president now directly owns 32,090 shares of the company’s stock, valued at approximately $784,600.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.81% of the company’s stock.
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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