Acuitas Investments LLC Takes $2.24 Million Position in The Aaron’s Company, Inc. (NYSE:AAN)

Acuitas Investments LLC acquired a new position in The Aaron’s Company, Inc. (NYSE:AAN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 224,898 shares of the company’s stock, valued at approximately $2,244,000. Acuitas Investments LLC owned approximately 0.71% of Aaron’s at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AAN. Wolverine Asset Management LLC purchased a new stake in Aaron’s in the 2nd quarter worth approximately $230,000. Rhumbline Advisers increased its stake in shares of Aaron’s by 3.0% in the second quarter. Rhumbline Advisers now owns 52,539 shares of the company’s stock worth $524,000 after acquiring an additional 1,553 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Aaron’s by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 350,857 shares of the company’s stock worth $3,502,000 after acquiring an additional 18,035 shares in the last quarter. Catalina Capital Group LLC acquired a new stake in Aaron’s during the second quarter valued at $165,000. Finally, Gladius Capital Management LP purchased a new position in Aaron’s in the second quarter valued at about $41,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AAN shares. BTIG Research began coverage on Aaron’s in a research note on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group reiterated a “hold” rating and issued a $10.10 target price (down from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. StockNews.com initiated coverage on shares of Aaron’s in a research note on Friday, August 30th. They set a “hold” rating on the stock. Loop Capital lifted their price objective on shares of Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, June 18th. Finally, TD Cowen increased their target price on shares of Aaron’s from $8.00 to $10.10 and gave the stock 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.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.46.

Aaron’s Stock Performance

NYSE:AAN opened at $9.99 on Friday. The firm has a market capitalization of $314.90 million, a PE ratio of -12.65 and a beta of 1.43. The company has a current ratio of 1.02, a quick ratio of 0.70 and a debt-to-equity ratio of 0.33. The Aaron’s Company, Inc. has a 1 year low of $6.62 and a 1 year high of $11.90. The firm’s fifty day simple moving average is $10.01 and its 200 day simple moving average is $8.60.

Aaron’s (NYSE:AAN) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). Aaron’s had a negative return on equity of 2.08% and a negative net margin of 2.06%. The business had revenue of $503.10 million during the quarter, compared to the consensus estimate of $513.91 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Aaron’s Company, Inc. will post -0.01 EPS for the current year.

Aaron’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a $0.125 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 5.01%. Aaron’s’s dividend payout ratio is -63.29%.

About Aaron’s

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.