Oregon Public Employees Retirement Fund trimmed its position in shares of Rent-A-Center, Inc. (NASDAQ:RCII – Get Rating) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,834 shares of the company’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Rent-A-Center were worth $575,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Rent-A-Center by 5.4% in the fourth quarter. State Street Corp now owns 2,143,826 shares of the company’s stock valued at $103,682,000 after purchasing an additional 110,073 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Rent-A-Center by 3.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,976,736 shares of the company’s stock worth $94,962,000 after acquiring an additional 59,905 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rent-A-Center by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,216,493 shares of the company’s stock worth $58,443,000 after acquiring an additional 11,141 shares in the last quarter. Royce & Associates LP increased its position in shares of Rent-A-Center by 11.7% during the fourth quarter. Royce & Associates LP now owns 603,134 shares of the company’s stock worth $28,975,000 after acquiring an additional 63,106 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rent-A-Center by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 524,129 shares of the company’s stock valued at $25,179,000 after acquiring an additional 8,867 shares in the last quarter. 81.66% of the stock is owned by institutional investors and hedge funds.
Rent-A-Center Stock Up 8.1 %
Rent-A-Center stock opened at $21.30 on Friday. The stock has a market cap of $1.26 billion, a PE ratio of 16.64 and a beta of 1.65. The company has a debt-to-equity ratio of 2.68, a current ratio of 3.25 and a quick ratio of 0.73. The stock’s fifty day moving average is $23.81 and its two-hundred day moving average is $30.13. Rent-A-Center, Inc. has a 1-year low of $18.88 and a 1-year high of $67.76.
Rent-A-Center (NASDAQ:RCII – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Rent-A-Center had a return on equity of 48.47% and a net margin of 1.87%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $1.32 EPS. On average, sell-side analysts expect that Rent-A-Center, Inc. will post 4.6 EPS for the current fiscal year.
Rent-A-Center Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 12th. Stockholders of record on Tuesday, June 21st were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, June 17th. This represents a $1.36 annualized dividend and a dividend yield of 6.38%. Rent-A-Center’s dividend payout ratio is presently 106.25%.
Insider Activity
In related news, Director Jeffrey J. Brown bought 1,223 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were purchased at an average cost of $20.69 per share, with a total value of $25,303.87. Following the transaction, the director now directly owns 75,669 shares of the company’s stock, valued at approximately $1,565,591.61. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
Wall Street Analyst Weigh In
RCII has been the topic of several recent research reports. Stephens downgraded Rent-A-Center from an “overweight” rating to an “equal weight” rating and set a $42.00 price target on the stock. in a report on Wednesday, June 29th. StockNews.com lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.75.
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, Acima, 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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