Rent-A-Center Inc (NASDAQ:RCII) Sees Significant Decrease in Short Interest

Rent-A-Center Inc (NASDAQ:RCII) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 4,191,700 shares, a drop of 13.0% from the June 30th total of 4,816,200 shares. Currently, 8.0% of the company’s shares are sold short. Based on an average trading volume of 1,010,000 shares, the short-interest ratio is currently 4.2 days.

Shares of NASDAQ:RCII traded down $1.17 during mid-day trading on Thursday, reaching $26.13. The stock had a trading volume of 743,852 shares, compared to its average volume of 1,294,936. The firm has a market cap of $1.49 billion, a PE ratio of 24.65 and a beta of 0.43. The firm has a 50 day simple moving average of $26.77 and a two-hundred day simple moving average of $23.05. The company has a current ratio of 2.55, a quick ratio of 0.82 and a debt-to-equity ratio of 2.07. Rent-A-Center has a twelve month low of $11.98 and a twelve month high of $28.25.

Rent-A-Center (NASDAQ:RCII) last announced its earnings results on Wednesday, August 7th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The firm had revenue of $655.90 million for the quarter, compared to the consensus estimate of $642.86 million. Rent-A-Center had a net margin of 4.40% and a return on equity of 32.63%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. On average, equities analysts anticipate that Rent-A-Center will post 2.26 EPS for the current fiscal year.

In related news, EVP Catherine M. Skula sold 5,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $24.45, for a total value of $122,250.00. Following the sale, the executive vice president now directly owns 32,090 shares in the company, valued at approximately $784,600.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its holdings in Rent-A-Center by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 69,605 shares of the company’s stock worth $1,854,000 after buying an additional 491 shares during the period. Piedmont Investment Advisors Inc. raised its holdings in Rent-A-Center by 5.1% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,112 shares of the company’s stock worth $232,000 after buying an additional 543 shares during the period. Crossmark Global Holdings Inc. raised its holdings in Rent-A-Center by 4.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 15,080 shares of the company’s stock worth $402,000 after buying an additional 588 shares during the period. Mason Street Advisors LLC raised its holdings in Rent-A-Center by 4.3% during the 1st quarter. Mason Street Advisors LLC now owns 14,389 shares of the company’s stock worth $300,000 after buying an additional 595 shares during the period. Finally, Meeder Asset Management Inc. raised its holdings in Rent-A-Center by 117.2% during the 1st quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock worth $27,000 after buying an additional 703 shares during the period. Hedge funds and other institutional investors own 97.39% of the company’s stock.

A number of analysts recently weighed in on RCII shares. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. ValuEngine downgraded shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Raymond James upgraded shares of Rent-A-Center from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $25.00 to $27.00 in a research report on Monday, April 22nd. Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 8th. Finally, BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $21.80.

About Rent-A-Center

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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