Company shares are trading at $36.80 impressively lower than the 50 day moving average of $41.74 and slightly below the 200 day moving average of $39.87. The 50 day moving average went down by -11.84% and the 200 day average went down by -7.70%. Trading was heavy with 1,743K shares changing hands by the end of trading on Tuesday. Shares saw a steep increase in trading volume of 106.63% over the normal average daily volume.
Traders are a little more bearish on shares of Aaron’s, Inc. of late as implied by the uptick in short interest. The firm had a rise in short interest from September 29, 2017 to October 13, 2017 of 10.60%. Short shares grew 595,238 over that period. With short interest at 6,208,980 and short average daily volume at 606,242, days to cover is 10.0 and the percentage of shorted shares was 0.09% on October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter First Quadrant L P/ca had bought 4,561 shares growing its stake by 17.3%. The value of the investment in Aaron’s, Inc. went from $1,027,000 to $1,351,000 a change of $324,000 since the last quarter. First Trust Advisors Lp downsized its stake by selling 28,475 shares a decrease of 38.4%. First Trust Advisors Lp now controls 45,758 shares worth $1,996,000. The total value of its holdings decreased 30.9%.
Nationwide Fund Advisors bolstered its ownership by buying 50,561 shares an increase of 32.9% in the quarter. Nationwide Fund Advisors claims 204,188 shares with a value of $8,909,000. The value of the position overall is up by 49.1%. As of quarter end Aperio Group, LLC had acquired a total of 32,142 shares growing its position 14.7%. The value in dollars increased from $8,512,000 to $10,949,000 increasing 28.6% quarter over quarter.
On September 28 the company was changed to “Overweight” according to a KeyBanc report which is up from the previous “Sector Weight” rating. On October 18 analysts at Janney Capital released its first research report on the stock with a rating of “Neutral”.
The company is now down since yesterday’s close of $36.80. The company also declared a dividend for shareholders paid on Monday the 2nd of October 2017. The dividend was $0.028 per share for the quarter or $0.11 annualized. The dividend yield was $0.28. The ex-dividend date was set for Thursday the 14th of September 2017.
The P/E ratio is currently 18.91 and market capitalization is 2.60B. In the last earnings report the EPS was $1.95 and is projected to be $2.49 for the current year with 70,726,000 shares currently outstanding. Next quarter’s EPS is expected be $0.85 with next year’s EPS projected to be $2.93.
Aaron’s, Inc. (Aaron’s), launched on March 28, 1962, is an omnichannel provider of lease-purchase solutions. The Company engages in the sales and lease ownership and specialty retailing of furniture, consumer electronics, home appliances and accessories through its Company-operated and franchised stores in Canada, as well as its e-commerce platform, Aarons.com. The Business’s segments include Sales and Lease Ownership, Progressive Finance Holdings, LLC (Progressive), Dent-A-Med, Inc., doing business as the HELPcard (DAMI), Franchise and Manufacturing. Its stores carry brands, such as Samsung, Frigidaire, Hewlett-Packard, LG, Whirlpool, Simmons, Philips, Ashley and Magnavox. As of December 31, 2016, the Company had 1,864 Aaron’s stores, consisted of 1,165 Company-operated stores in 28 states, the District of Columbia and Canada, and 699 independently-owned franchised stores in 46 states and Canada. The Company owns or has rights to various trademarks and trade names used in its business, including Aaron’s, Aaron’s Sales & Lease Ownership, Progressive, Dent-A-Med, the HELPcard and Woodhaven Furniture Industries..