Rent-A-Center Inc. (NASDAQ:RCII) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,059,277 shares, a growth of 16.7% from the October 31st total of 9,474,671 shares. Based on an average daily volume of 1,079,387 shares, the short-interest ratio is currently 10.2 days. Approximately 21.4% of the company’s shares are short sold.
A number of research firms recently commented on RCII. Zacks Investment Research lowered shares of Rent-A-Center from a “hold” rating to a “sell” rating in a research note on Monday, August 1st. Sidoti lowered shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research note on Tuesday, November 15th. Finally, Jefferies Group began coverage on shares of Rent-A-Center in a research note on Thursday, October 13th. They issued a “hold” rating and a $10.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $17.72.
Shares of Rent-A-Center (NASDAQ:RCII) opened at 12.01 on Monday. The firm’s market cap is $638.32 million. Rent-A-Center has a 52 week low of $8.00 and a 52 week high of $17.47. The firm’s 50 day moving average is $10.56 and its 200-day moving average is $12.04.
Rent-A-Center (NASDAQ:RCII) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. The business earned $693.90 million during the quarter, compared to the consensus estimate of $701.27 million. Rent-A-Center had a negative net margin of 28.44% and a positive return on equity of 16.57%. Rent-A-Center’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. Equities research analysts predict that Rent-A-Center will post $1.10 EPS for the current year.
Large investors have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $105,000. KCG Holdings Inc. purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $125,000. Mason Street Advisors LLC purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $127,000. Mackenzie Financial Corp purchased a new stake in shares of Rent-A-Center during the second quarter valued at approximately $132,000. Finally, Municipal Employees Retirement System of Michigan increased its stake in shares of Rent-A-Center by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 11,770 shares of the company’s stock valued at $149,000 after buying an additional 200 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.