Gotham Asset Management LLC Decreases Stake in Aaron’s, Inc. (AAN)

Gotham Asset Management LLC decreased its stake in Aaron’s, Inc. (NYSE:AAN) by 29.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 348,760 shares of the company’s stock after selling 145,807 shares during the period. Gotham Asset Management LLC owned approximately 0.49% of Aaron’s, worth $10,372,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Aaron’s, by 14,081.2% in the first quarter. BlackRock Inc. now owns 6,938,700 shares of the company’s stock valued at $206,356,000 after buying an additional 6,889,771 shares during the period. Vanguard Group Inc. raised its stake in Aaron’s, by 6.1% in the first quarter. Vanguard Group Inc. now owns 6,298,343 shares of the company’s stock valued at $187,313,000 after buying an additional 361,856 shares during the period. LSV Asset Management raised its stake in Aaron’s, by 49.0% in the first quarter. LSV Asset Management now owns 2,020,086 shares of the company’s stock valued at $60,077,000 after buying an additional 664,286 shares during the period. Bank of New York Mellon Corp raised its stake in Aaron’s, by 70.6% in the first quarter. Bank of New York Mellon Corp now owns 1,399,062 shares of the company’s stock valued at $41,607,000 after buying an additional 578,774 shares during the period. Finally, Norges Bank acquired a new stake in Aaron’s, during the fourth quarter valued at $40,324,000. Hedge funds and other institutional investors own 99.83% of the company’s stock.

Institutional Ownership by Quarter for Aaron`s,  (NYSE:AAN)

Aaron’s, Inc. (NYSE AAN) traded up 0.39% on Wednesday, reaching $38.58. 568,233 shares of the company’s stock traded hands. The stock has a market capitalization of $2.73 billion, a PE ratio of 19.61 and a beta of 0.18. Aaron’s, Inc. has a 52-week low of $20.50 and a 52-week high of $40.33. The firm’s 50-day moving average is $37.04 and its 200 day moving average is $32.14.

Aaron’s, (NYSE:AAN) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.14. Aaron’s, had a net margin of 4.47% and a return on equity of 11.81%. The firm had revenue of $844.60 million during the quarter, compared to the consensus estimate of $830.44 million. During the same period last year, the firm posted $0.71 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts forecast that Aaron’s, Inc. will post $2.40 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Tuesday, June 27th will be issued a dividend of $0.0275 per share. This represents a $0.11 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, June 23rd. Aaron’s, ‘s dividend payout ratio is currently 5.58%.

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AAN has been the topic of several research reports. Jefferies Group LLC increased their price objective on shares of Aaron’s, from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Loop Capital restated a “hold” rating and issued a $28.00 target price on shares of Aaron’s, in a research report on Sunday, April 23rd. Zacks Investment Research upgraded shares of Aaron’s, from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Tuesday, May 2nd. Finally, TheStreet upgraded shares of Aaron’s, from a “c+” rating to a “b-” rating in a research report on Monday, April 24th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $38.00.

In related news, CEO John W. Robinson sold 13,750 shares of Aaron’s, stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $28.65, for a total transaction of $393,937.50. Following the completion of the transaction, the chief executive officer now directly owns 378,440 shares of the company’s stock, valued at approximately $10,842,306. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Robert W. Kamerschen sold 4,000 shares of Aaron’s, stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $30.32, for a total transaction of $121,280.00. Following the transaction, the chief accounting officer now directly owns 36,999 shares of the company’s stock, valued at $1,121,809.68. The disclosure for this sale can be found here. Insiders have sold a total of 37,750 shares of company stock valued at $1,254,168 over the last three months. 1.93% of the stock is currently owned by insiders.

About Aaron’s,

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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