Trexquant Investment LP Cuts Holdings in Rent-A-Center, Inc. (NASDAQ:RCII)

Trexquant Investment LP decreased its stake in shares of Rent-A-Center, Inc. (NASDAQ:RCIIGet Rating) by 36.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,583 shares of the company’s stock after selling 20,162 shares during the quarter. Trexquant Investment LP owned approximately 0.06% of Rent-A-Center worth $692,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its holdings in Rent-A-Center by 11.2% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 4,378 shares of the company’s stock worth $110,000 after purchasing an additional 441 shares during the period. California Public Employees Retirement System increased its holdings in Rent-A-Center by 0.5% during the 2nd quarter. California Public Employees Retirement System now owns 100,627 shares of the company’s stock worth $1,957,000 after purchasing an additional 484 shares during the period. Legacy Wealth Asset Management LLC increased its holdings in Rent-A-Center by 5.5% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 12,730 shares of the company’s stock worth $321,000 after purchasing an additional 664 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Rent-A-Center by 7.1% during the 1st quarter. Teacher Retirement System of Texas now owns 12,346 shares of the company’s stock worth $311,000 after acquiring an additional 822 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Rent-A-Center by 2.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 40,284 shares of the company’s stock worth $1,015,000 after acquiring an additional 835 shares in the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.

Rent-A-Center Stock Up 0.9 %

Shares of NASDAQ RCII opened at $22.39 on Friday. The stock has a market cap of $1.25 billion, a PE ratio of 74.63 and a beta of 1.78. The company has a quick ratio of 0.93, a current ratio of 3.33 and a debt-to-equity ratio of 2.50. Rent-A-Center, Inc. has a 52-week low of $16.82 and a 52-week high of $51.98. The business has a 50-day moving average price of $20.87 and a 200 day moving average price of $23.60.

Rent-A-Center (NASDAQ:RCIIGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.05. The firm had revenue of $1,000.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Rent-A-Center had a return on equity of 44.72% and a net margin of 0.44%. The business’s revenue was down 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 EPS. Equities research analysts forecast that Rent-A-Center, Inc. will post 3.65 earnings per share for the current year.

Rent-A-Center Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Tuesday, October 4th were paid a $0.34 dividend. The ex-dividend date of this dividend was Monday, October 3rd. This represents a $1.36 annualized dividend and a dividend yield of 6.07%. Rent-A-Center’s dividend payout ratio (DPR) is currently 453.33%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James lowered their price objective on Rent-A-Center from $35.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, October 3rd. KeyCorp lowered their price objective on Rent-A-Center from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Friday, November 4th. StockNews.com cut Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. Finally, Bank of America lowered their price objective on Rent-A-Center from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, September 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rent-A-Center has an average rating of “Moderate Buy” and a consensus target price of $33.50.

Insider Buying and Selling at Rent-A-Center

In related news, Director Jeffrey J. Brown bought 1,475 shares of the stock in a transaction on Tuesday, October 25th. The shares were bought at an average cost of $17.45 per share, for a total transaction of $25,738.75. Following the purchase, the director now owns 77,144 shares of the company’s stock, valued at approximately $1,346,162.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Rent-A-Center Profile

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Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a lease-to-own basis. The company operates in four segments: Rent-A-Center Business, Acima, Mexico, and Franchising. It offers furniture and accessories, appliances, consumer electronics, computers, tablets and smartphones, tools, tires, handbags, and other accessories under rental purchase agreements.

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Institutional Ownership by Quarter for Rent-A-Center (NASDAQ:RCII)

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