Teacher Retirement System of Texas trimmed its stake in shares of Rent-A-Center Inc (NASDAQ:RCII) by 35.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,797 shares of the company’s stock after selling 6,429 shares during the period. Teacher Retirement System of Texas’ holdings in Rent-A-Center were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Ellington Management Group LLC acquired a new stake in Rent-A-Center in the fourth quarter valued at approximately $208,000. Franklin Resources Inc. acquired a new stake in Rent-A-Center in the fourth quarter valued at approximately $172,000. Two Sigma Investments LP grew its holdings in Rent-A-Center by 367.2% in the fourth quarter. Two Sigma Investments LP now owns 84,316 shares of the company’s stock valued at $936,000 after purchasing an additional 66,267 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Rent-A-Center in the fourth quarter valued at approximately $2,775,000. Finally, BlackRock Inc. grew its holdings in Rent-A-Center by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,470,305 shares of the company’s stock valued at $71,820,000 after purchasing an additional 145,831 shares during the period.
RCII has been the topic of several research analyst reports. BidaskClub raised Rent-A-Center from a “hold” rating to a “buy” rating in a report on Friday, April 13th. Stephens upgraded Rent-A-Center from an “underweight” rating to an “equal” rating in a research report on Monday, June 18th. Zacks Investment Research upgraded Rent-A-Center from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 24th. Jefferies Financial Group restated a “hold” rating and issued a $10.00 target price on shares of Rent-A-Center in a research report on Wednesday, April 11th. Finally, Loop Capital upgraded Rent-A-Center from a “sell” rating to a “hold” rating and raised their target price for the company from $6.00 to $9.00 in a research report on Monday, April 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.20.
Rent-A-Center (NASDAQ:RCII) last released its earnings results on Monday, April 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.16). The firm had revenue of $698.00 million during the quarter, compared to analysts’ expectations of $701.27 million. Rent-A-Center had a negative net margin of 0.24% and a negative return on equity of 13.81%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. research analysts anticipate that Rent-A-Center Inc will post 0.67 earnings per share for the current year.
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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