Jacobs Levy Equity Management Inc. Decreases Stock Position in The Aaron’s Company, Inc. (NYSE:AAN)

Jacobs Levy Equity Management Inc. lessened its position in The Aaron’s Company, Inc. (NYSE:AAN) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 559,442 shares of the company’s stock after selling 86,329 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.83% of Aaron’s worth $4,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cornercap Investment Counsel Inc. lifted its position in shares of Aaron’s by 1.4% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 90,715 shares of the company’s stock valued at $987,000 after acquiring an additional 1,290 shares in the last quarter. Gladius Capital Management LP lifted its position in Aaron’s by 62.5% during the fourth quarter. Gladius Capital Management LP now owns 4,229 shares of the company’s stock worth $46,000 after buying an additional 1,626 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Aaron’s during the fourth quarter worth approximately $29,000. Russell Investments Group Ltd. lifted its position in Aaron’s by 2.3% during the first quarter. Russell Investments Group Ltd. now owns 166,590 shares of the company’s stock worth $1,249,000 after buying an additional 3,772 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Aaron’s during the fourth quarter worth approximately $123,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Aaron’s Price Performance

NYSE:AAN remained flat at $10.02 on Wednesday. The company’s stock had a trading volume of 133,550 shares, compared to its average volume of 452,799. The Aaron’s Company, Inc. has a 12 month low of $6.62 and a 12 month high of $15.93. The company has a quick ratio of 0.72, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $9.19 and a 200 day moving average of $8.65.

Aaron’s (NYSE:AAN) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). Aaron’s had a negative net margin of 1.15% and a positive return on equity of 0.02%. The firm had revenue of $511.50 million during the quarter, compared to analyst estimates of $521.05 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. Equities analysts expect that The Aaron’s Company, Inc. will post 0.12 EPS for the current year.

Aaron’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Friday, June 14th were paid a $0.125 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.99%. Aaron’s’s payout ratio is presently -63.29%.

Analysts Set New Price Targets

A number of equities analysts recently commented on AAN shares. BTIG Research started coverage on Aaron’s in a research report on Friday, June 7th. They set a “neutral” rating on the stock. StockNews.com started coverage on Aaron’s in a research report on Monday. They set a “hold” rating on the stock. Truist Financial lifted their price objective on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research report on Tuesday, June 18th. Jefferies Financial Group restated a “hold” rating and issued a $10.10 target price (down previously from $11.00) on shares of Aaron’s in a research report on Wednesday, July 10th. Finally, TD Cowen lifted their target price on Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a research report on Monday, June 17th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.88.

Aaron’s Company Profile

Headquartered in Atlanta, The Aaron’s Company, Inc (NYSE: AAN) is a leading, technology-enabled, omnichannel provider of lease-purchase solutions. Aaron’s engages in direct-to-consumer sales and lease ownership of furniture, appliances, consumer electronics and accessories through its approximately 1,300 company-operated and franchised stores in 47 states and Canada, as well as its e-commerce platform, Aarons.com.