Rent-A-Center Inc (NASDAQ:RCII) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 4,160,000 shares, a drop of 19.8% from the May 30th total of 5,189,000 shares. Based on an average trading volume of 1,170,000 shares, the short-interest ratio is currently 3.6 days. Approximately 7.9% of the shares of the stock are sold short.
In other news, EVP Catherine M. Skula sold 5,000 shares of Rent-A-Center stock in a transaction that occurred on Tuesday, June 4th. The shares were 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 in the company, valued at approximately $784,600.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.81% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Rent-A-Center by 2.1% in the 4th quarter. BlackRock Inc. now owns 6,643,986 shares of the company’s stock worth $107,566,000 after acquiring an additional 139,757 shares during the period. Engaged Capital LLC grew its stake in Rent-A-Center by 17.6% in the 4th quarter. Engaged Capital LLC now owns 5,333,609 shares of the company’s stock worth $86,351,000 after acquiring an additional 800,000 shares during the period. LMR Partners LLP purchased a new stake in Rent-A-Center in the 4th quarter worth approximately $31,898,000. Millennium Management LLC grew its stake in Rent-A-Center by 2,935.8% in the 4th quarter. Millennium Management LLC now owns 1,385,377 shares of the company’s stock worth $22,429,000 after acquiring an additional 1,339,742 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in Rent-A-Center by 191.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 876,742 shares of the company’s stock worth $14,194,000 after acquiring an additional 575,452 shares during the period. 95.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Rent-A-Center stock traded up $0.30 during trading on Friday, hitting $27.83. 642,996 shares of the company were exchanged, compared to its average volume of 1,091,395. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.55 and a quick ratio of 0.82. Rent-A-Center has a fifty-two week low of $11.98 and a fifty-two week high of $27.95. The stock has a market cap of $1.49 billion, a PE ratio of 26.25 and a beta of 0.48. The stock has a 50 day moving average of $25.34.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Monday, May 6th. The company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.29. The firm had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. Rent-A-Center had a net margin of 1.34% and a return on equity of 33.38%. Rent-A-Center’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. As a group, research analysts forecast that Rent-A-Center will post 2.12 EPS for the current year.
Several brokerages recently issued reports on RCII. Jefferies Financial Group lifted their price objective on Rent-A-Center from $19.50 to $22.00 and gave the stock a “hold” rating in a research report on Monday, March 18th. Stephens set a $120.00 price objective on Electronic Arts and gave the stock a “buy” rating in a research report on Monday, June 24th. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. Finally, Raymond James restated a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.80.
Rent-A-Center Company Profile
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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