Rent-A-Center Inc (RCII) Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP decreased its stake in shares of Rent-A-Center Inc (NASDAQ:RCII) by 73.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,903 shares of the company’s stock after selling 252,924 shares during the quarter. Engineers Gate Manager LP’s holdings in Rent-A-Center were worth $1,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Perella Weinberg Partners Capital Management LP purchased a new position in Rent-A-Center during the 2nd quarter valued at about $5,967,000. Renaissance Technologies LLC purchased a new position in Rent-A-Center during the 2nd quarter valued at about $7,456,000. Legal & General Group Plc increased its position in Rent-A-Center by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 140,606 shares of the company’s stock valued at $2,069,000 after purchasing an additional 5,117 shares during the period. Price Capital Management Inc. purchased a new position in Rent-A-Center during the 2nd quarter valued at about $706,000. Finally, Pacifica Capital Investments LLC purchased a new position in Rent-A-Center during the 2nd quarter valued at about $2,287,000. Institutional investors own 94.18% of the company’s stock.

NASDAQ RCII opened at $14.49 on Friday. The company has a current ratio of 2.60, a quick ratio of 0.67 and a debt-to-equity ratio of 1.90. The stock has a market cap of $768.90 million, a price-to-earnings ratio of -26.83 and a beta of 0.60. Rent-A-Center Inc has a one year low of $7.22 and a one year high of $14.94.

Rent-A-Center (NASDAQ:RCII) last posted its earnings results on Monday, November 5th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $645.00 million for the quarter, compared to the consensus estimate of $636.43 million. Rent-A-Center had a net margin of 1.58% and a return on equity of 6.16%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. On average, equities research analysts expect that Rent-A-Center Inc will post 0.75 EPS for the current year.

In other news, insider Engaged Capital Llc sold 4,450,000 shares of Rent-A-Center stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $14.67, for a total value of $65,281,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is owned by insiders.

RCII has been the topic of a number of research reports. ValuEngine raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. BidaskClub raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Loop Capital reissued a “sell” rating and set a $15.00 target price on shares of Rent-A-Center in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Rent-A-Center presently has a consensus rating of “Hold” and an average target price of $11.80.

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Rent-A-Center 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; and furniture, including accessories under rental purchase agreements.

Further Reading: Fundamental Analysis and Individual Investors

Want to see what other hedge funds are holding RCII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rent-A-Center Inc (NASDAQ:RCII).

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

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