Comerica Bank Increases Holdings in Rent-A-Center Inc (NASDAQ:RCII)

Share on StockTwits

Comerica Bank grew its holdings in shares of Rent-A-Center Inc (NASDAQ:RCII) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,638 shares of the company’s stock after purchasing an additional 3,578 shares during the quarter. Comerica Bank owned approximately 0.15% of Rent-A-Center worth $2,109,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. KBC Group NV grew its stake in shares of Rent-A-Center by 258.1% during the 2nd quarter. KBC Group NV now owns 215,013 shares of the company’s stock worth $5,726,000 after acquiring an additional 154,977 shares during the period. Stone Ridge Asset Management LLC grew its stake in shares of 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 worth $1,644,000 after acquiring an additional 3,400 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Rent-A-Center during the 2nd quarter worth $855,000. SG Americas Securities LLC bought a new position in shares of Rent-A-Center during the 2nd quarter worth $136,000. Finally, Voloridge Investment Management LLC grew its stake in shares of Rent-A-Center by 35.9% during the 2nd quarter. Voloridge Investment Management LLC now owns 39,907 shares of the company’s stock worth $1,063,000 after acquiring an additional 10,545 shares during the period. 99.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ RCII opened at $23.42 on Thursday. Rent-A-Center Inc has a 52 week low of $11.98 and a 52 week high of $28.25. The business has a 50-day simple moving average of $25.56 and a two-hundred day simple moving average of $25.56. The company has a quick ratio of 0.51, a current ratio of 2.34 and a debt-to-equity ratio of 1.21. The company has a market cap of $1.21 billion, a P/E ratio of 22.09 and a beta of 0.42.

Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Wednesday, November 6th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.03). Rent-A-Center had a return on equity of 31.75% and a net margin of 5.09%. The company had revenue of $649.37 million during the quarter, compared to the consensus estimate of $630.83 million. During the same quarter in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts anticipate that Rent-A-Center Inc will post 2.27 EPS for the current year.

Several research analysts have recently weighed in on the company. BidaskClub downgraded Rent-A-Center from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 5th. Janney Montgomery Scott upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Thursday, August 8th. Stifel Nicolaus upgraded Rent-A-Center from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday. Northcoast Research upgraded Rent-A-Center from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded Rent-A-Center from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $24.40.

Rent-A-Center 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.

See Also: What is a conference call?

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

Receive News & Ratings for Rent-A-Center Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center and related companies with MarketBeat.com's FREE daily email newsletter.