Marshall Wace North America L.P. Trims Stock Holdings in Rent-A-Center Inc (NASDAQ:RCII)

Marshall Wace North America L.P. reduced its stake in shares of Rent-A-Center Inc (NASDAQ:RCII) by 97.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,197 shares of the company’s stock after selling 909,031 shares during the quarter. Marshall Wace North America L.P.’s holdings in Rent-A-Center were worth $484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RCII. Meeder Asset Management Inc. boosted its position in Rent-A-Center by 117.2% in the first quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock valued at $27,000 after buying an additional 703 shares during the last quarter. Bank of Montreal Can boosted its position in Rent-A-Center by 105.6% in the fourth quarter. Bank of Montreal Can now owns 3,831 shares of the company’s stock valued at $62,000 after buying an additional 1,968 shares during the last quarter. First Quadrant L P CA purchased a new stake in Rent-A-Center in the 1st quarter worth approximately $91,000. Advisors Preferred LLC purchased a new stake in Rent-A-Center in the 1st quarter worth approximately $113,000. Finally, Anderson Fisher LLC purchased a new stake in Rent-A-Center in the 1st quarter worth approximately $123,000. 95.22% of the stock is owned by hedge funds and other institutional investors.

Shares of RCII traded down $0.11 during midday trading on Thursday, reaching $26.36. The company had a trading volume of 580,611 shares, compared to its average volume of 1,347,201. Rent-A-Center Inc has a 1-year low of $11.98 and a 1-year high of $28.25. The company has a market capitalization of $1.49 billion, a PE ratio of 24.87 and a beta of 0.48. The business has a 50 day simple moving average of $25.75. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.82 and a current ratio of 2.55.

Rent-A-Center (NASDAQ:RCII) last released its quarterly earnings results on Monday, May 6th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.29. Rent-A-Center had a return on equity of 33.38% and a net margin of 1.34%. The business had revenue of $696.69 million during the quarter, compared to analysts’ expectations of $683.62 million. During the same period in the prior year, the business posted ($0.08) EPS. The company’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts predict that Rent-A-Center Inc will post 2.12 EPS for the current year.

Several equities research analysts have commented on RCII shares. Raymond James restated a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. BidaskClub upgraded Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. TheStreet raised Rent-A-Center from a “c” rating to a “b-” rating in a research note on Tuesday, May 7th. ValuEngine downgraded WideOpenWest from a “hold” rating to a “sell” rating in a research note on Friday, June 28th. Finally, Stephens set a $120.00 target price on Electronic Arts and gave the stock a “buy” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Rent-A-Center currently has an average rating of “Buy” and an average price target of $21.80.

In related news, EVP Catherine M. Skula sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $24.45, for a total transaction of $122,250.00. Following the completion of the transaction, the executive vice president now directly owns 32,090 shares in the company, valued at approximately $784,600.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

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; wheels and tires; and furniture, including accessories under rental purchase agreements.

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

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