Public Employees Retirement System of Ohio Acquires 70,252 Shares of Rent-A-Center Inc (RCII)
Public Employees Retirement System of Ohio boosted its holdings in Rent-A-Center Inc (NASDAQ:RCII) by 506.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,111 shares of the company’s stock after purchasing an additional 70,252 shares during the period. Public Employees Retirement System of Ohio’s holdings in Rent-A-Center were worth $1,238,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Freestone Capital Holdings LLC bought a new position in shares of Rent-A-Center during the first quarter valued at about $2,263,000. Perella Weinberg Partners Capital Management LP bought a new position in shares of Rent-A-Center during the second quarter valued at about $5,967,000. Price Capital Management Inc. bought a new position in shares of Rent-A-Center during the second quarter valued at about $706,000. Pacifica Capital Investments LLC bought a new position in shares of Rent-A-Center during the second quarter valued at about $2,287,000. Finally, SG Americas Securities LLC raised its stake in shares of Rent-A-Center by 1,228.8% during the second quarter. SG Americas Securities LLC now owns 438,269 shares of the company’s stock valued at $6,451,000 after acquiring an additional 405,286 shares during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.
In related news, insider Engaged Capital Llc sold 4,450,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $14.67, for a total transaction of $65,281,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by insiders.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings results on Monday, July 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.24. Rent-A-Center had a net margin of 0.61% and a negative return on equity of 3.42%. The company had revenue of $655.70 million for the quarter, compared to analysts’ expectations of $645.49 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Rent-A-Center’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Rent-A-Center Inc will post 0.75 EPS for the current fiscal year.
Several equities analysts have recently commented on the stock. TheStreet raised shares of Rent-A-Center from a “d+” rating to a “c-” rating in a research note on Monday, July 9th. Zacks Investment Research upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, July 4th. BidaskClub upgraded shares of Rent-A-Center from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 29th. Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating in a research report on Monday, June 18th. Finally, Northcoast Research cut shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $11.80.
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; and furniture, including accessories under rental purchase agreements.
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