Archer Capital Management L.P. reduced its position in Rent-A-Center Inc (NASDAQ:RCII) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,658,778 shares of the company’s stock after selling 17,050 shares during the period. Rent-A-Center accounts for about 7.1% of Archer Capital Management L.P.’s portfolio, making the stock its 5th largest position. Archer Capital Management L.P.’s holdings in Rent-A-Center were worth $18,412,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in RCII. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Rent-A-Center in the 2nd quarter valued at about $120,000. Crossmark Global Holdings Inc. bought a new stake in shares of Rent-A-Center in the 3rd quarter valued at about $132,000. Franklin Resources Inc. bought a new stake in shares of Rent-A-Center in the 4th quarter valued at about $172,000. Teacher Retirement System of Texas acquired a new stake in Rent-A-Center in the 4th quarter worth approximately $202,000. Finally, Ellington Management Group LLC acquired a new stake in Rent-A-Center in the 4th quarter worth approximately $208,000.
Shares of Rent-A-Center Inc (NASDAQ:RCII) opened at $8.95 on Wednesday. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.77 and a quick ratio of 0.53. Rent-A-Center Inc has a 12 month low of $7.22 and a 12 month high of $13.89. The company has a market cap of $477.14, a P/E ratio of -6.99 and a beta of 0.90.
A number of analysts recently commented on RCII shares. Zacks Investment Research cut shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. BidaskClub upgraded shares of Rent-A-Center from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Loop Capital set a $8.00 target price on shares of Rent-A-Center and gave the stock a “sell” rating in a research note on Wednesday, January 17th. ValuEngine cut shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Wednesday, January 24th. Finally, Stephens reiterated an “equal weight” rating and issued a $5.00 target price (down from $8.00) on shares of Rent-A-Center in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.86.
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Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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