Harvest Capital Strategies LLC purchased a new stake in shares of Rent-A-Center Inc (NASDAQ:RCII) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 664,750 shares of the company’s stock, valued at approximately $7,379,000. Rent-A-Center comprises approximately 1.3% of Harvest Capital Strategies LLC’s holdings, making the stock its 19th biggest position. Harvest Capital Strategies LLC owned 1.25% of Rent-A-Center as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in Rent-A-Center by 2.3% in the fourth quarter. BlackRock Inc. now owns 6,470,305 shares of the company’s stock worth $71,820,000 after acquiring an additional 145,831 shares during the period. Arlington Value Capital LLC raised its position in Rent-A-Center by 32.6% in the fourth quarter. Arlington Value Capital LLC now owns 4,070,422 shares of the company’s stock worth $45,181,000 after acquiring an additional 1,000,103 shares during the period. Brandes Investment Partners LP raised its position in Rent-A-Center by 9.6% in the fourth quarter. Brandes Investment Partners LP now owns 1,993,468 shares of the company’s stock worth $22,127,000 after acquiring an additional 174,472 shares during the period. Schwab Charles Investment Management Inc. raised its position in Rent-A-Center by 1.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,577,669 shares of the company’s stock worth $18,112,000 after acquiring an additional 25,839 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Rent-A-Center by 15.4% in the third quarter. JPMorgan Chase & Co. now owns 1,418,648 shares of the company’s stock worth $16,357,000 after acquiring an additional 189,506 shares during the period.
Several research analysts have weighed in on RCII shares. BidaskClub upgraded shares of Rent-A-Center from a “strong sell” rating to a “sell” rating in a research report on Tuesday, March 13th. Stephens reissued an “equal weight” rating and issued a $5.00 price objective (down from $8.00) on shares of Rent-A-Center in a research note on Thursday, February 22nd. ValuEngine cut shares of Rent-A-Center from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Rent-A-Center from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Jefferies Group reissued a “hold” rating and issued a $9.00 price objective on shares of Rent-A-Center in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.86.
Shares of RCII stock traded up $0.04 during midday trading on Wednesday, hitting $8.47. 330,919 shares of the stock were exchanged, compared to its average volume of 1,805,350. The company has a current ratio of 2.77, a quick ratio of 0.53 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $468.44, a PE ratio of 76.64 and a beta of 0.90. Rent-A-Center Inc has a 1 year low of $7.22 and a 1 year high of $13.89.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Tuesday, February 20th. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.34). The company had revenue of $638.95 million for the quarter, compared to analysts’ expectations of $654.55 million. Rent-A-Center had a net margin of 0.25% and a negative return on equity of 11.30%. The business’s revenue was down 6.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. sell-side analysts expect that Rent-A-Center Inc will post 0.16 earnings per share for the current fiscal year.
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Rent-A-Center Company Profile
Rent-A-Center, Inc is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico, and Franchising.
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