The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rent-A-Center Inc. shares valued at $25,304 were purchased by BROWN JEFFREY J on Jul 12. At $20.69 per share, BROWN JEFFREY J acquired 1,223 shares. The insider’s holdings grew to 75,669 shares worth approximately $2.18 million following the completion of this transaction.
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Also, BROWN JEFFREY J purchased 962 shares, netting a total of over 24,985 in proceeds. Following the buying of shares at $25.98 each, the insider now holds 74,446 shares.
Before that, FADEL MITCHELL E had added 40,000 shares to its account. In a trade valued at $1,083,200, the Chief Executive Officer bought Rent-A-Center Inc. shares for $27.08 each. Upon closing the transaction, the insider’s holdings increased to 40,000 shares, worth approximately $17.52 million.
As published in a research note from Stephens on June 29, 2022, Rent-A-Center Inc. [RCII] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $42. This represents a 31.38% premium over Thursday’s closing price. Analysts at Raymond James downgraded the stock from ‘”a Strong buy”‘ to ‘”an Outperform”‘ outlook in a report released in late February. As of August 25, 2021, BofA Securities has initiated its “Buy” rating for RCII. Earlier on August 12, 2021, Janney upgraded its rating. Their new recommendation was “a Buy” for RCII stock which previously was a “a Neutral”.
Analyzing RCII’s Price Performance
On Thursday, Rent-A-Center Inc. [NASDAQ: RCII] rose 13.33% to $28.82. The stock’s lowest price that day was $27.05, but it reached a high of $30.30 in the same session. During the last five days, there has been a surge of approximately 24.12%. Over the course of the year, Rent-A-Center Inc. shares have dropped approximately -40.01%. Shares of the company reached a 52-week high of $50.16 on 01/05/22 and a 52-week low of $18.88 on 07/05/22. A 50-day SMA is recorded $23.19, while a 200-day SMA reached $34.33. Nevertheless, trading volume fell to 1.99 million shares from 0.64 million shares the previous day.
Support And Resistance Levels for Rent-A-Center Inc. (RCII)
According to the 24-hour chart, there is a support level at 27.15, which, if violated, would cause prices to drop to 25.47. In the upper region, resistance lies at 30.40. The next price resistance is at 31.97. RSI (Relative Strength Index) is 72.98 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.45, which suggests the price will increase in the coming days. Percent R is at 14.90%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Rent-A-Center Inc. subject to short interest?
Stocks of Rent-A-Center Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.22 million shares to 5.1 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.32 million shares. A decline of -4.31% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.79 of the overall float, the days-to-cover ratio (short ratio) decline to 4.79.
Which companies own the most shares of Rent-A-Center Inc. (RCII)?
According to BlackRock Fund Advisors filings, the company currently owns 8,965,629 shares, which is about 15.16% of the total RCII shares outstanding. The investor’s shares have plunged by -23,572 from its previous 13-F filing of 8989201.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $125,246,466. Fidelity Management & Research Co acquire a 43.85% interest valued at $112.09 million while Engaged Capital LLC sold a 0 stake. A total of 189,510 shares of Rent-A-Center Inc. were sold by SSgA Funds Management, Inc. during the quarter, and 39,330 were bought by IEQ Capital LLC. In its current portfolio, Fuller & Thaler Asset Management, holds 1,236,423 shares valued at $24.05 million.
In terms of Rent-A-Center Inc. share price expectations, FactSet research, analysts set an average price target of $41.71 in the next 12 months, up nearly 65.16% from the previous closing price of $25.43. Analysts anticipate Rent-A-Center Inc. stock to reach $65.00 by 2022, with the lowest price target being $23.00. In spite of this, 7 analysts ranked Rent-A-Center Inc. stock as an Overweight at the end of 2022. On February 01, 2021, KeyBanc Capital Markets assigned a price target of “an Overweight” to the stock and upgraded coverage with a $58.