Rent-A-Center Inc (NASDAQ:RCII) Sees Large Decrease in Short Interest
Rent-A-Center Inc (NASDAQ:RCII) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 4,160,000 shares, a drop of 19.8% from the May 30th total of 5,189,000 shares. Based on an average daily volume of 1,170,000 shares, the days-to-cover ratio is currently 3.6 days. Approximately 7.9% of the shares of the company are sold short.
Several analysts recently issued reports on RCII shares. TheStreet upgraded shares of Rent-A-Center from a “c” rating to a “b-” rating in a research report on Tuesday, May 7th. Jefferies Financial Group increased their price target on shares of Rent-A-Center from $19.50 to $22.00 and gave the stock a “hold” rating in a research report on Monday, March 18th. BidaskClub upgraded shares of Zillow Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 2nd. ValuEngine lowered shares of WideOpenWest from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Finally, Raymond James reiterated a “buy” rating on shares of West Fraser Timber in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Rent-A-Center presently has a consensus rating of “Buy” and an average price target of $21.80.
Shares of NASDAQ RCII traded up $0.30 during trading hours on Friday, hitting $27.83. 403,771 shares of the stock were exchanged, compared to its average volume of 1,361,723. The company has a current ratio of 2.55, a quick ratio of 0.82 and a debt-to-equity ratio of 2.80. The firm has a market cap of $1.49 billion, a P/E ratio of 26.25 and a beta of 0.48. The firm has a fifty day moving average of $25.26. Rent-A-Center has a 1-year low of $11.98 and a 1-year high of $27.95.
In other news, EVP Catherine M. Skula sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $24.45, for a total transaction of $122,250.00. Following the transaction, the executive vice president now directly owns 32,090 shares of the company’s stock, valued at $784,600.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of RCII. Meeder Asset Management Inc. boosted its position in Rent-A-Center by 117.2% in the first quarter. Meeder Asset Management Inc. now owns 1,303 shares of the company’s stock valued at $27,000 after buying an additional 703 shares in the last quarter. First Quadrant L P CA acquired a new stake in Rent-A-Center in the first quarter valued at approximately $91,000. Advisors Preferred LLC acquired a new stake in Rent-A-Center in the first quarter valued at approximately $113,000. Anderson Fisher LLC acquired a new stake in Rent-A-Center in the first quarter valued at approximately $123,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rent-A-Center by 334.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,188 shares of the company’s stock valued at $150,000 after buying an additional 5,534 shares in the last quarter. Hedge funds and other institutional investors own 95.26% of the company’s stock.
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; wheels and tires; and furniture, including accessories under rental purchase agreements.
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