California Public Employees Retirement System lessened its holdings in Rent-A-Center Inc (NASDAQ:RCII) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 492,380 shares of the company’s stock after selling 8,091 shares during the quarter. California Public Employees Retirement System owned 0.92% of Rent-A-Center worth $5,653,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in RCII. Arlington Value Capital LLC boosted its holdings in Rent-A-Center by 85.2% in the 2nd quarter. Arlington Value Capital LLC now owns 2,722,514 shares of the company’s stock valued at $31,907,000 after purchasing an additional 1,252,756 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Rent-A-Center by 1,124.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,229,142 shares of the company’s stock valued at $14,405,000 after purchasing an additional 1,128,785 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Rent-A-Center in the 3rd quarter valued at approximately $5,795,000. Rafferty Asset Management LLC purchased a new stake in Rent-A-Center in the 2nd quarter valued at approximately $5,376,000. Finally, GSA Capital Partners LLP boosted its holdings in Rent-A-Center by 65.4% in the 2nd quarter. GSA Capital Partners LLP now owns 438,150 shares of the company’s stock valued at $5,135,000 after purchasing an additional 173,186 shares in the last quarter.
A number of brokerages have weighed in on RCII. BidaskClub lowered Rent-A-Center from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Zacks Investment Research lowered Rent-A-Center from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. Jefferies Group lowered their price objective on Rent-A-Center from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, November 1st. Loop Capital set a $8.00 price objective on Rent-A-Center and gave the company a “sell” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $10.50 price objective on shares of Rent-A-Center in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.21.
Shares of Rent-A-Center Inc (NASDAQ:RCII) opened at $10.96 on Friday. The company has a market capitalization of $604.14, a P/E ratio of -3.34 and a beta of 0.69. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.46 and a current ratio of 2.55. Rent-A-Center Inc has a 52 week low of $7.76 and a 52 week high of $13.89.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Monday, October 30th. The company reported ($0.15) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.07). The firm had revenue of $643.97 million for the quarter, compared to analysts’ expectations of $649.09 million. Rent-A-Center had a negative return on equity of 0.66% and a negative net margin of 6.35%. Rent-A-Center’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.11 EPS. research analysts expect that Rent-A-Center Inc will post -0.19 earnings per share for the current fiscal year.
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Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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