Rent-A-Center Inc (RCII) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its position in Rent-A-Center Inc (NASDAQ:RCII) by 3,515.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,522 shares of the company’s stock after purchasing an additional 134,691 shares during the quarter. Bank of Montreal Can’s holdings in Rent-A-Center were worth $2,891,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RCII. Meeder Asset Management Inc. grew its stake in Rent-A-Center by 117.2% in the first quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock worth $27,000 after purchasing an additional 703 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in Rent-A-Center by 1,009.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock worth $32,000 after buying an additional 2,220 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Rent-A-Center by 26.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,800 shares of the company’s stock worth $62,000 after buying an additional 800 shares during the period. First Quadrant L P CA purchased a new stake in Rent-A-Center during the first quarter worth $91,000. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in Rent-A-Center during the fourth quarter worth $205,000. 90.98% of the stock is currently owned by institutional investors.

Rent-A-Center stock opened at $24.38 on Thursday. The company has a quick ratio of 0.82, a current ratio of 2.55 and a debt-to-equity ratio of 2.80. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 23.00 and a beta of 0.38. Rent-A-Center Inc has a twelve month low of $9.26 and a twelve month high of $26.75.

Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.29. The company had revenue of $696.69 million during the quarter, compared to analyst estimates of $683.62 million. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. Rent-A-Center’s revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Analysts anticipate that Rent-A-Center Inc will post 2.12 earnings per share for the current fiscal year.

RCII has been the subject of a number of analyst reports. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Janney Montgomery Scott lowered Rent-A-Center from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Tuesday, February 5th. Raymond James lowered Rent-A-Center from an “outperform” rating to a “market perform” rating and set a $18.78 target price for the company. in a report on Wednesday, February 27th. Finally, Jefferies Financial Group upped their target price on Rent-A-Center from $19.50 to $22.00 and gave the stock a “hold” rating in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.21.

TRADEMARK VIOLATION NOTICE: This story was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this story on another website, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this story can be accessed at https://www.themarketsdaily.com/2019/05/16/rent-a-center-inc-rcii-shares-bought-by-bank-of-montreal-can.html.

Rent-A-Center Company 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.

Featured Article: What are the qualifications of a portfolio manager?

Want to see what other hedge funds are holding RCII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rent-A-Center Inc (NASDAQ:RCII).

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.