Insider Buying: Rent-A-Center, Inc. (NASDAQ:RCII) Director Buys 557 Shares of Stock

Rent-A-Center, Inc. (NASDAQ:RCII) Director Jeffrey J. Brown bought 557 shares of the stock in a transaction on Thursday, January 13th. The stock was purchased at an average price of $44.48 per share, for a total transaction of $24,775.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of RCII stock traded down $0.60 during trading hours on Friday, hitting $45.25. 735,414 shares of the company’s stock were exchanged, compared to its average volume of 590,851. The company has a market capitalization of $2.99 billion, a PE ratio of 15.88, a PEG ratio of 0.19 and a beta of 1.49. The company has a current ratio of 3.23, a quick ratio of 0.75 and a debt-to-equity ratio of 1.50. Rent-A-Center, Inc. has a 12-month low of $42.10 and a 12-month high of $67.76. The business’s 50 day simple moving average is $47.20 and its 200-day simple moving average is $53.91.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Tuesday, November 2nd. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.05. Rent-A-Center had a net margin of 4.39% and a return on equity of 47.72%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. Equities analysts anticipate that Rent-A-Center, Inc. will post 6.06 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 13th. Shareholders of record on Thursday, December 16th were given a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, December 15th. This represents a $1.36 annualized dividend and a yield of 3.01%. This is an increase from Rent-A-Center’s previous quarterly dividend of $0.31. Rent-A-Center’s payout ratio is presently 47.72%.

Several research firms have recently weighed in on RCII. Zacks Investment Research cut shares of Rent-A-Center from a “strong-buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a report on Tuesday, October 5th. KeyCorp lowered their price target on Rent-A-Center from $75.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, November 5th. Finally, Raymond James cut their price objective on Rent-A-Center from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, November 5th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $70.00.

Hedge funds have recently made changes to their positions in the business. Koshinski Asset Management Inc. bought a new stake in Rent-A-Center in the third quarter valued at approximately $40,000. Dark Forest Capital Management LP bought a new position in shares of Rent-A-Center during the second quarter valued at approximately $42,000. Atticus Wealth Management LLC bought a new position in shares of Rent-A-Center during the third quarter valued at approximately $91,000. Fieldpoint Private Securities LLC raised its holdings in shares of Rent-A-Center by 20.1% during the second quarter. Fieldpoint Private Securities LLC now owns 1,748 shares of the company’s stock valued at $104,000 after acquiring an additional 293 shares in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Rent-A-Center during the second quarter valued at approximately $106,000. Hedge funds and other institutional investors own 76.42% of the company’s stock.

Rent-A-Center Company Profile

Rent-A-Center, Inc engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. The Rent-A-Center Business segment consists of company-owned rent-to-own stores in the United States and Puerto Rico.

Featured Article: How Do You Calculate Return on Equity (ROE)?

Insider Buying and Selling by Quarter for Rent-A-Center (NASDAQ:RCII)

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.