Russell Investments Group Ltd. Grows Position in Rent-A-Center Inc (NASDAQ:RCII)

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Russell Investments Group Ltd. increased its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 37.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,989 shares of the company’s stock after purchasing an additional 19,867 shares during the period. Russell Investments Group Ltd.’s holdings in Rent-A-Center were worth $1,930,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in Rent-A-Center by 258.1% during the 2nd quarter. KBC Group NV now owns 215,013 shares of the company’s stock valued at $5,726,000 after buying an additional 154,977 shares in the last quarter. Stone Ridge Asset Management LLC lifted its holdings in Rent-A-Center by 5.8% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 61,740 shares of the company’s stock valued at $1,644,000 after buying an additional 3,400 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in Rent-A-Center during the 1st quarter valued at about $1,475,000. Hillsdale Investment Management Inc. bought a new stake in Rent-A-Center during the 2nd quarter valued at about $855,000. Finally, SG Americas Securities LLC bought a new stake in Rent-A-Center during the 2nd quarter valued at about $136,000.

Shares of NASDAQ:RCII traded down $0.25 during trading hours on Thursday, hitting $25.65. The company’s stock had a trading volume of 10,370 shares, compared to its average volume of 635,758. Rent-A-Center Inc has a 52 week low of $11.98 and a 52 week high of $28.25. The company has a debt-to-equity ratio of 2.07, a current ratio of 2.97 and a quick ratio of 1.17. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 24.16 and a beta of 0.39. The firm’s fifty day moving average price is $25.84 and its 200 day moving average price is $24.22.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.56 by $0.04. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The business had revenue of $655.90 million during the quarter, compared to analyst estimates of $642.86 million. During the same quarter in the previous year, the business posted $0.47 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Rent-A-Center Inc will post 2.26 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Monday, September 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $1.00 annualized dividend and a dividend yield of 3.90%. This is a positive change from Rent-A-Center’s previous quarterly dividend of $0.08.

A number of equities research analysts recently weighed in on the stock. Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a report on Thursday, August 8th. Stephens upgraded shares of Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 price objective for the company in a report on Monday, June 24th. ValuEngine upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. BidaskClub lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, Stifel Nicolaus set a $28.00 price objective on shares of Rent-A-Center and gave the company a “hold” rating in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $22.83.

About Rent-A-Center

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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Institutional Ownership by Quarter for Rent-A-Center (NASDAQ:RCII)

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