First Wilshire Securities Management Inc. lowered its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,861 shares of the company’s stock after selling 9,275 shares during the period. First Wilshire Securities Management Inc. owned 0.42% of Rent-A-Center worth $1,941,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in RCII. Philadelphia Financial Management of San Francisco LLC bought a new position in Rent-A-Center during the 4th quarter worth $19,474,000. Arlington Value Capital LLC increased its stake in Rent-A-Center by 32.6% during the 4th 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. Harvest Capital Strategies LLC bought a new position in Rent-A-Center during the 4th quarter worth $7,379,000. Alta Fundamental Advisers LLC bought a new position in Rent-A-Center during the 1st quarter worth $4,732,000. Finally, Freestone Capital Holdings LLC bought a new position in Rent-A-Center during the 1st quarter worth $2,263,000.
A number of equities analysts have commented on the company. Stifel Nicolaus raised their price objective on Rent-A-Center from $9.00 to $12.00 and gave the stock a “hold” rating in a research note on Tuesday. BidaskClub upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Wednesday. ValuEngine downgraded Rent-A-Center from a “sell” rating to a “strong sell” rating in a report on Friday, June 1st. Loop Capital raised their target price on Rent-A-Center to $11.00 and gave the company a “hold” rating in a report on Monday. Finally, Stephens set a $5.00 target price on Rent-A-Center and gave the company a “sell” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.20.
Rent-A-Center (NASDAQ:RCII) last issued its earnings results on Monday, April 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.16). The business had revenue of $698.00 million during the quarter, compared to analyst estimates of $701.27 million. Rent-A-Center had a negative net margin of 0.24% and a negative return on equity of 13.81%. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.04 EPS. analysts forecast that Rent-A-Center Inc will post 0.09 earnings per share for the current year.
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; and furniture, including accessories under rental purchase agreements.
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