Elo Mutual Pension Insurance Co increased its position in shares of Rent-A-Center Inc (NASDAQ:RCII) by 115.8% during the third quarter, HoldingsChannel.com reports. The firm owned 408,163 shares of the company’s stock after buying an additional 218,998 shares during the period. Rent-A-Center accounts for about 0.2% of Elo Mutual Pension Insurance Co’s investment portfolio, making the stock its 25th largest holding. Elo Mutual Pension Insurance Co’s holdings in Rent-A-Center were worth $5,869,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chicago Capital Management LLC bought a new stake in Rent-A-Center in the second quarter valued at $15,150,000. BlackRock Inc. grew its position in Rent-A-Center by 8.7% in the second quarter. BlackRock Inc. now owns 7,066,882 shares of the company’s stock valued at $104,023,000 after acquiring an additional 566,292 shares during the period. United Services Automobile Association grew its position in Rent-A-Center by 5,292.2% in the second quarter. United Services Automobile Association now owns 569,361 shares of the company’s stock valued at $117,937,000 after acquiring an additional 558,802 shares during the period. Renaissance Technologies LLC bought a new stake in Rent-A-Center in the second quarter valued at $7,456,000. Finally, SG Americas Securities LLC grew its position in Rent-A-Center by 1,228.8% in the second quarter. SG Americas Securities LLC now owns 438,269 shares of the company’s stock valued at $6,451,000 after acquiring an additional 405,286 shares during the period. Institutional investors and hedge funds own 95.40% of the company’s stock.
Rent-A-Center stock opened at $14.54 on Friday. The company has a current ratio of 2.56, a quick ratio of 0.66 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $778.10 million, a price-to-earnings ratio of -26.93 and a beta of 0.60. Rent-A-Center Inc has a 52 week low of $7.22 and a 52 week high of $14.94.
A number of analysts have weighed in on the company. BidaskClub cut Rent-A-Center from a “hold” rating to a “sell” rating in a research report on Thursday, August 23rd. ValuEngine upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, July 31st. Finally, Loop Capital reiterated a “sell” rating and issued a $15.00 price target on shares of Rent-A-Center in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Rent-A-Center currently has an average rating of “Hold” and a consensus price target of $11.80.
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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; and furniture, including accessories under rental purchase agreements.
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