RCII - Rent-A-Center gains after activist Engaged Capital reports stake
- Rent-A-Center ( NASDAQ: RCII ) rose 6.3% after activist investor Engaged Capital reported a 6.5% holding in a 13D filing on Friday.
- Engaged Capital owns 3.6 million Rent-A-Center shares, according to the filing. Engaged purchased the shares as it believed they are "undervalued." Engaged is among RCII's top five holders.
- Rent-A-Center ( RCII ) shares had plunged more than 50% this year before Monday. The sock plummeted 22% on Sept. 30 after the rent-to-own firm reduced its Q3 forecast.
- Engaged Capital is no stranger to Rent-A-Center ( RCII ) and has been involved in activist campaigns with the company since at least 2017.
- Rent-A-Center ( RCII ) short interest is 12%.
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Rent-A-Center gains after activist Engaged Capital reports stake