JPMorgan Chase & Co. raised its position in Rent-A-Center Inc. (NASDAQ:RCII) by 15.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,418,648 shares of the company’s stock after acquiring an additional 189,506 shares during the period. JPMorgan Chase & Co. owned approximately 2.66% of Rent-A-Center worth $16,357,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rent-A-Center during the third quarter worth $305,000. Macquarie Group Ltd. acquired a new stake in shares of Rent-A-Center during the third quarter worth $404,000. Ameriprise Financial Inc. lifted its stake in shares of Rent-A-Center by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 507,473 shares of the company’s stock worth $5,826,000 after buying an additional 96,896 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Rent-A-Center during the third quarter worth $312,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Rent-A-Center by 59.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 19,960 shares of the company’s stock worth $229,000 after buying an additional 7,410 shares during the period.
Several research firms have recently commented on RCII. Jefferies Group lowered their price objective on shares of Rent-A-Center from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Wednesday, November 1st. BidaskClub downgraded shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Friday. Loop Capital set a $8.00 price objective on shares of Rent-A-Center and gave the stock a “sell” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reiterated a “hold” rating and set a $10.50 price objective on shares of Rent-A-Center in a research note on Wednesday, November 1st. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Rent-A-Center in a research note on Wednesday, October 25th. Four research 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. The stock presently has an average rating of “Hold” and an average target price of $11.21.
Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, October 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.07). The business had revenue of $643.97 million for the quarter, compared to analyst estimates of $649.09 million. Rent-A-Center had a negative net margin of 6.35% and a negative return on equity of 0.66%. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 earnings per share. equities analysts expect that Rent-A-Center Inc. will post -0.19 earnings per share for the current fiscal year.
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.
Receive News & Ratings for Rent-A-Center Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rent-A-Center and related companies with MarketBeat.com's FREE daily email newsletter.