Russell Investments Group Ltd. Boosts Stock Holdings in Rent-A-Center Inc (NASDAQ:RCII)
Russell Investments Group Ltd. grew its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 37.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,989 shares of the company’s stock after buying an additional 19,867 shares during the quarter. Russell Investments Group Ltd. owned 0.14% of Rent-A-Center worth $1,930,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of RCII. SG Capital Management LLC purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $23,107,000. Acadian Asset Management LLC purchased a new stake in Rent-A-Center in the second quarter worth approximately $11,495,000. Martingale Asset Management L P purchased a new stake in Rent-A-Center in the first quarter worth approximately $6,277,000. AJO LP purchased a new stake in Rent-A-Center in the first quarter worth approximately $4,621,000. Finally, First Trust Advisors LP purchased a new stake in Rent-A-Center in the second quarter worth approximately $5,077,000.
RCII has been the topic of several recent research reports. Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. ValuEngine upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. BidaskClub downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. Stifel Nicolaus set a $28.00 price target on shares of Rent-A-Center and gave the stock a “hold” rating in a research report on Friday, September 6th. Finally, Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 price target on the stock in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center has a consensus rating of “Hold” and an average price target of $22.83.
Rent-A-Center (NASDAQ:RCII) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $655.90 million for the quarter, compared to the consensus estimate of $642.86 million. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The company’s revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. Sell-side analysts forecast that Rent-A-Center Inc will post 2.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.90%. This is an increase from Rent-A-Center’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, September 20th.
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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