Massachusetts Financial Services Co. MA Acquires 1,065 Shares of The Aaron’s Company, Inc. (NYSE:AAN)

Massachusetts Financial Services Co. MA grew its holdings in The Aaron’s Company, Inc. (NYSE:AAN) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,781 shares of the company’s stock after purchasing an additional 1,065 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Aaron’s were worth $317,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Rhumbline Advisers boosted its holdings in shares of Aaron’s by 3.0% during the 2nd quarter. Rhumbline Advisers now owns 52,539 shares of the company’s stock valued at $524,000 after acquiring an additional 1,553 shares in the last quarter. Verity Asset Management Inc. raised its position in shares of Aaron’s by 15.8% in the 1st quarter. Verity Asset Management Inc. now owns 19,732 shares of the company’s stock worth $148,000 after acquiring an additional 2,695 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Aaron’s by 2.3% in the 1st quarter. Russell Investments Group Ltd. now owns 166,590 shares of the company’s stock worth $1,249,000 after acquiring an additional 3,772 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Aaron’s by 314.4% in the 2nd quarter. GAMMA Investing LLC now owns 5,101 shares of the company’s stock worth $51,000 after acquiring an additional 3,870 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in Aaron’s in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AAN. BTIG Research assumed coverage on Aaron’s in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Truist Financial boosted their target price on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. TD Cowen boosted their target price on Aaron’s from $8.00 to $10.10 and gave the stock a “hold” rating in a research note on Monday, June 17th. Loop Capital upped their price objective on Aaron’s from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, June 18th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $10.10 price objective (down previously from $11.00) on shares of Aaron’s in a research note on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.46.

Aaron’s Trading Up 0.2 %

Aaron’s stock opened at $10.05 on Tuesday. The stock has a market cap of $316.64 million, a P/E ratio of -12.72 and a beta of 1.43. The Aaron’s Company, Inc. has a fifty-two week low of $6.62 and a fifty-two week high of $11.90. The firm’s fifty day moving average price is $10.03 and its 200-day moving average price is $8.70. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02.

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

Aaron’s Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a $0.125 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 4.98%. Aaron’s’s dividend payout ratio is presently -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.