Rent-A-Center Inc (RCII) Short Interest Down 21.9% in June

Rent-A-Center Inc (NASDAQ:RCII) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 21,844,410 shares, a decrease of 21.9% from the May 31st total of 27,979,079 shares. Based on an average daily trading volume, of 5,032,779 shares, the short-interest ratio is currently 4.3 days. Currently, 45.0% of the shares of the company are short sold.

Rent-A-Center opened at $14.79 on Wednesday, according to Marketbeat.com. The company has a market capitalization of $793.21 million, a price-to-earnings ratio of -27.39 and a beta of 0.69. Rent-A-Center has a 1-year low of $7.22 and a 1-year high of $14.94. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.51 and a quick ratio of 0.58.

Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Monday, April 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.16). The firm had revenue of $698.00 million during the quarter, compared to the consensus estimate of $701.27 million. Rent-A-Center had a negative return on equity of 13.81% and a negative net margin of 0.24%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. equities research analysts anticipate that Rent-A-Center will post 0.67 earnings per share for the current fiscal year.

RCII has been the subject of a number of recent analyst reports. Janney Montgomery Scott lowered shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Monday, June 18th. Stifel Nicolaus upped their price target on shares of Rent-A-Center from $9.00 to $12.00 and gave the stock a “hold” rating in a research report on Tuesday, June 12th. Northcoast Research lowered shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 19th. BidaskClub upgraded shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Finally, Raymond James lowered shares of Rent-A-Center from an “outperform” rating to a “market perform” rating in a research report on Monday, June 18th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.20.

Several large investors have recently modified their holdings of RCII. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Rent-A-Center during the fourth quarter worth $19,474,000. Arlington Value Capital LLC boosted its position in shares of Rent-A-Center by 32.6% during the fourth quarter. Arlington Value Capital LLC now owns 4,070,422 shares of the company’s stock worth $45,181,000 after acquiring an additional 1,000,103 shares during the last quarter. Harvest Capital Strategies LLC bought a new position in shares of Rent-A-Center during the fourth quarter worth $7,379,000. Alta Fundamental Advisers LLC bought a new position in shares of Rent-A-Center during the first quarter worth $4,732,000. Finally, Freestone Capital Holdings LLC bought a new position in shares of Rent-A-Center during the first quarter worth $2,263,000.

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; and furniture, including accessories under rental purchase agreements.

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