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.
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.
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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.
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