Ramsey Quantitative Systems purchased a new position in shares of Aaron’s, Inc. (NYSE:AAN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,656 shares of the company’s stock, valued at approximately $337,000.
A number of other institutional investors have also made changes to their positions in the stock. Parametric Portfolio Associates LLC boosted its position in Aaron’s, by 17.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 261,970 shares of the company’s stock worth $10,191,000 after purchasing an additional 39,698 shares during the period. Nordea Investment Management AB purchased a new stake in Aaron’s, during the 2nd quarter worth $2,217,000. Vanguard Group Inc. boosted its position in Aaron’s, by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,320,969 shares of the company’s stock worth $245,885,000 after purchasing an additional 22,626 shares during the period. Northern Trust Corp boosted its position in Aaron’s, by 6.2% during the 2nd quarter. Northern Trust Corp now owns 1,574,361 shares of the company’s stock worth $61,243,000 after purchasing an additional 91,801 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its position in Aaron’s, by 61.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 157,893 shares of the company’s stock worth $6,142,000 after purchasing an additional 60,075 shares during the period. 99.83% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on AAN shares. Off Wall Street started coverage on shares of Aaron’s, in a report on Monday, September 18th. They issued a “sell” rating on the stock. BidaskClub lowered shares of Aaron’s, from a “strong-buy” rating to a “buy” rating in a report on Friday, July 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $54.00 price objective on shares of Aaron’s, in a report on Thursday, September 7th. SunTrust Banks, Inc. reiterated a “buy” rating on shares of Aaron’s, in a report on Monday, July 31st. Finally, Northcoast Research reiterated a “buy” rating and issued a $52.50 price objective (up previously from $45.00) on shares of Aaron’s, in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $44.21.
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Shares of Aaron’s, Inc. (NYSE AAN) traded up 0.52% during midday trading on Friday, hitting $39.03. 560,852 shares of the stock were exchanged. The stock’s 50 day moving average is $43.85 and its 200 day moving average is $37.21. The firm has a market cap of $2.76 billion, a P/E ratio of 20.06 and a beta of 0.18. Aaron’s, Inc. has a 12-month low of $22.37 and a 12-month high of $48.22.
Aaron’s, (NYSE:AAN) last released its quarterly earnings data on Friday, July 28th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.10. The company had revenue of $815.60 million during the quarter, compared to the consensus estimate of $786.12 million. Aaron’s, had a net margin of 4.36% and a return on equity of 12.00%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. On average, equities research analysts forecast that Aaron’s, Inc. will post $2.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.027 per share. This represents a $0.11 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, September 14th. Aaron’s, ‘s payout ratio is 5.64%.
In other news, CEO Ryan K. Woodley sold 6,776 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $44.30, for a total transaction of $300,176.80. Following the completion of the transaction, the chief executive officer now directly owns 145,849 shares of the company’s stock, valued at approximately $6,461,110.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert P. Sinclair, Jr. sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $43.47, for a total transaction of $173,880.00. Following the transaction, the insider now directly owns 12,469 shares of the company’s stock, valued at $542,027.43. The disclosure for this sale can be found here. Insiders have sold a total of 61,776 shares of company stock valued at $2,742,507 over the last ninety days. 1.93% of the stock is owned by insiders.
Aaron’s, Inc (Aaron’s) is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com.
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