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Rent-A-Center Inc (RCII): Are Hedge Funds Right About This Stock?

Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on numerous financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Rent-A-Center Inc (NASDAQ:RCII) based on that data.

Rent-A-Center Inc (NASDAQ:RCII) was in 27 hedge funds’ portfolios at the end of the third quarter of 2015. Rent-A-Center Inc (NASDAQ:RCII) shareholders have witnessed a decrease in hedge fund interest lately. There were 31 hedge funds in our database with Rent-A-Center Inc (NASDAQ:RCII) holdings at the end of the previous quarter. At the end of this article, we will also compare Rent-A-Center Inc (NASDAQ:RCII) to other stocks, including Nevro Corp (NYSE:NVRO), Surgical Care Affiliates Inc (NASDAQ:SCAI), and TeleTech Holdings, Inc. (NASDAQ:TTEC) to get a better sense of its popularity.

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In the 21st century investor’s toolkit, there are plenty of metrics stock traders put to use to appraise stocks. Some of the most innovative metrics are hedge fund and insider trading signals. We have shown that, historically, those who follow the top picks of the top hedge fund managers can outperform the S&P 500 by a superb amount (see the details here).

With all of this in mind, we’re going to take a look at the recent action surrounding Rent-A-Center Inc (NASDAQ:RCII).

How have hedgies been trading Rent-A-Center Inc (NASDAQ:RCII)?

At the end of the third quarter, a total of 27 of the hedge funds tracked by Insider Monkey held long positions in this stock, a drop of 13% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were upping their holdings significantly (or already accumulated large positions).

According to Insider Monkey’s hedge fund and institutional investor database, Phill Gross and Robert Atchinson’s Adage Capital Management has the number one position in Rent-A-Center Inc (NASDAQ:RCII), worth close to $59.6 million, comprising 0.2% of its total 13F portfolio. Sitting at the No. 2 spot is Hirzel Capital Management, managed by Zac Hirzel, which holds a $46.3 million position; 6.6% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions encompass Richard S. Pzena’s Pzena Investment Management, Chuck Royce’s Royce & Associates and Ron Gutfleish’s Elm Ridge Capital.

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