SG Capital Management LLC Invests $23.11 Million in Rent-A-Center Inc (NASDAQ:RCII)

SG Capital Management LLC purchased a new position in shares of Rent-A-Center Inc (NASDAQ:RCII) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 867,690 shares of the company’s stock, valued at approximately $23,107,000. Rent-A-Center accounts for about 3.7% of SG Capital Management LLC’s investment portfolio, making the stock its 4th biggest position.

Several other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in Rent-A-Center by 117.2% in the 1st quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock valued at $27,000 after acquiring an additional 703 shares during the period. First Quadrant L P CA acquired a new stake in Rent-A-Center in the 1st quarter valued at approximately $91,000. Advisors Preferred LLC acquired a new stake in Rent-A-Center in the 1st quarter valued at approximately $113,000. Anderson Fisher LLC acquired a new stake in Rent-A-Center in the 1st quarter valued at approximately $123,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Rent-A-Center by 334.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,188 shares of the company’s stock valued at $150,000 after acquiring an additional 5,534 shares during the period. Institutional investors and hedge funds own 96.66% of the company’s stock.

NASDAQ RCII traded up $0.15 on Thursday, reaching $27.18. 421,828 shares of the stock traded hands, compared to its average volume of 683,569. The stock’s fifty day moving average price is $26.46. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.82 and a current ratio of 2.55. The company has a market capitalization of $1.46 billion, a P/E ratio of 25.64 and a beta of 0.48. Rent-A-Center Inc has a 12 month low of $11.98 and a 12 month high of $28.25.

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

Several research firms recently commented on RCII. BidaskClub upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Raymond James upgraded Rent-A-Center from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $25.00 to $27.00 in a research report on Monday, April 22nd. TheStreet upgraded Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Stephens upgraded Rent-A-Center from an “underweight” rating to an “equal” rating and set a $27.00 target price on the stock in a research report on Monday, June 24th. Finally, ValuEngine upgraded Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Rent-A-Center currently has a consensus rating of “Buy” and a consensus price target of $21.80.

In other Rent-A-Center news, EVP Catherine M. Skula sold 5,000 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $784,600.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

About Rent-A-Center

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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