Rent-A-Center Inc (RCII) Short Interest Down 16.7% in May
Rent-A-Center Inc (NASDAQ:RCII) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 19,073,684 shares, a decrease of 16.7% from the April 28th total of 22,906,207 shares. Based on an average daily volume of 2,265,544 shares, the short-interest ratio is presently 8.4 days. Currently, 37.8% of the company’s stock are sold short.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 11.21 on Friday. Rent-A-Center has a 52-week low of $7.76 and a 52-week high of $13.73. The stock’s market cap is $596.33 million. The company’s 50-day moving average is $11.02 and its 200-day moving average is $10.28.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Monday, May 1st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. Rent-A-Center had a negative net margin of 28.44% and a positive return on equity of 16.57%. The company had revenue of $742 million during the quarter, compared to analysts’ expectations of $733.43 million. During the same quarter in the previous year, the business posted $0.48 EPS. The firm’s revenue was down 11.2% on a year-over-year basis. Equities analysts anticipate that Rent-A-Center will post $0.35 EPS for the current year.
A number of equities research analysts recently commented on the stock. Stifel Nicolaus reissued a “hold” rating and set a $11.50 target price (up previously from $8.50) on shares of Rent-A-Center in a research report on Monday, April 17th. Raymond James Financial, Inc. raised shares of Rent-A-Center from a “market perform” rating to a “strong-buy” rating and set a $15.00 target price for the company in a research report on Wednesday, April 12th. Stephens cut shares of Rent-A-Center from an “equal weight” rating to an “underweight” rating in a research report on Friday, March 31st. Loop Capital reissued a “hold” rating and set a $8.00 target price on shares of Rent-A-Center in a research report on Wednesday, April 12th. Finally, Janney Montgomery Scott assumed coverage on shares of Rent-A-Center in a research report on Thursday, April 6th. They set a “buy” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.75.
In other news, Chairman Mark E. Speese bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average price of $11.70 per share, with a total value of $1,170,000.00. Following the completion of the transaction, the chairman now directly owns 844,627 shares of the company’s stock, valued at approximately $9,882,135.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven L. Pepper bought 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were purchased at an average cost of $10.93 per share, with a total value of $491,850.00. The disclosure for this purchase can be found here. Insiders have purchased 1,845,233 shares of company stock valued at $16,369,115 in the last three months. 3.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RCII. Municipal Employees Retirement System of Michigan boosted its position in Rent-A-Center by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,770 shares of the company’s stock valued at $149,000 after buying an additional 200 shares during the period. Louisiana State Employees Retirement System boosted its position in Rent-A-Center by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the company’s stock valued at $192,000 after buying an additional 300 shares during the period. Arizona State Retirement System boosted its position in Rent-A-Center by 1.1% in the first quarter. Arizona State Retirement System now owns 27,700 shares of the company’s stock valued at $246,000 after buying an additional 300 shares during the period. Mason Street Advisors LLC boosted its position in Rent-A-Center by 7.1% in the first quarter. Mason Street Advisors LLC now owns 12,439 shares of the company’s stock valued at $110,000 after buying an additional 825 shares during the period. Finally, Systematic Financial Management LP boosted its position in Rent-A-Center by 0.9% in the fourth quarter. Systematic Financial Management LP now owns 147,935 shares of the company’s stock valued at $1,664,000 after buying an additional 1,325 shares during the period. Institutional investors own 96.78% of the company’s stock.
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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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