P Schoenfeld Asset Management LP Purchases Shares of 336,886 Rent-A-Center Inc (RCII)

P Schoenfeld Asset Management LP purchased a new stake in Rent-A-Center Inc (NASDAQ:RCII) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 336,886 shares of the company’s stock, valued at approximately $5,454,000. Rent-A-Center makes up 0.6% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 21st largest holding. P Schoenfeld Asset Management LP owned 0.63% of Rent-A-Center at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in RCII. FNY Investment Advisers LLC lifted its position in Rent-A-Center by 1,009.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $32,000 after buying an additional 2,220 shares during the period. Nisa Investment Advisors LLC lifted its position in Rent-A-Center by 26.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,800 shares of the company’s stock valued at $62,000 after buying an additional 800 shares during the period. Bank of Montreal Can lifted its position in Rent-A-Center by 105.6% during 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 period. CENTRAL TRUST Co purchased a new position in Rent-A-Center during the fourth quarter valued at $121,000. Finally, United Services Automobile Association lifted its position in Rent-A-Center by 11.7% during the fourth quarter. United Services Automobile Association now owns 13,426 shares of the company’s stock valued at $217,000 after buying an additional 1,411 shares during the period. Institutional investors and hedge funds own 92.34% of the company’s stock.

RCII opened at $21.34 on Friday. The company has a quick ratio of 0.67, a current ratio of 2.46 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $1.14 billion, a PE ratio of 20.13 and a beta of 0.27. Rent-A-Center Inc has a 1 year low of $8.12 and a 1 year high of $22.77.

Several equities analysts have commented on RCII shares. Raymond James lowered Rent-A-Center from an “outperform” rating to a “market perform” rating and set a $18.78 price objective for the company. in a research report on Wednesday, February 27th. BidaskClub lowered Rent-A-Center from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 4th. Stephens lowered Rent-A-Center from an “equal weight” rating to an “underweight” rating and set a $16.47 price objective for the company. in a research report on Thursday, January 3rd. Janney Montgomery Scott lowered Rent-A-Center from a “buy” rating to a “neutral” rating and set a $18.00 price objective for the company. in a research report on Tuesday, February 5th. Finally, ValuEngine lowered Rent-A-Center from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.21.

In other news, CAO Christopher A. Korst sold 9,600 shares of Rent-A-Center stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $17.39, for a total value of $166,944.00. Following the completion of the transaction, the chief accounting officer now owns 50,964 shares of the company’s stock, valued at approximately $886,263.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Catherine M. Skula sold 21,381 shares of Rent-A-Center stock in a transaction dated Monday, December 24th. The stock was sold at an average price of $15.08, for a total value of $322,425.48. Following the completion of the transaction, the executive vice president now directly owns 33,998 shares of the company’s stock, valued at approximately $512,689.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,208 shares of company stock valued at $528,342. 0.88% of the stock is owned by insiders.

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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: Sell-Side Analysts

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

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