Gabelli Funds LLC Invests $3.23 Million in The Aaron’s Company, Inc. (NYSE:AAN)

Gabelli Funds LLC acquired a new position in The Aaron’s Company, Inc. (NYSE:AAN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 323,610 shares of the company’s stock, valued at approximately $3,230,000. Gabelli Funds LLC owned 1.03% of Aaron’s as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Aaron’s by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company’s stock worth $10,938,000 after purchasing an additional 93,207 shares during the period. Alpine Associates Management Inc. bought a new stake in Aaron’s during the 2nd quarter worth approximately $8,379,000. Acadian Asset Management LLC lifted its holdings in Aaron’s by 25.5% during the first quarter. Acadian Asset Management LLC now owns 807,933 shares of the company’s stock valued at $6,056,000 after purchasing an additional 164,392 shares in the last quarter. American Century Companies Inc. lifted its holdings in Aaron’s by 12.1% during the second quarter. American Century Companies Inc. now owns 759,972 shares of the company’s stock valued at $7,585,000 after purchasing an additional 81,910 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in 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 valued at $3,502,000 after purchasing an additional 18,035 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on AAN shares. Truist Financial lifted their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a report on Tuesday, June 18th. TD Cowen lifted their price target on shares of Aaron’s from $8.00 to $10.10 and gave the company a “hold” rating in a report on Monday, June 17th. BTIG Research started coverage on shares of Aaron’s in a report on Friday, June 7th. They set a “neutral” rating on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.10 price target (down previously from $11.00) on shares of Aaron’s in a report on Wednesday, July 10th. Finally, Loop Capital boosted their target price on shares of Aaron’s from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, June 18th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.46.

Aaron’s Stock Performance

NYSE AAN opened at $10.06 on Wednesday. The company’s 50-day moving average price is $10.03 and its 200-day moving average price is $8.72. 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 stock has a market cap of $317.11 million, a PE ratio of -12.73 and a beta of 1.43. The Aaron’s Company, Inc. has a 12 month low of $6.62 and a 12 month high of $11.90.

Aaron’s (NYSE:AAN) last released its quarterly earnings data on Monday, August 5th. The company reported ($0.07) earnings per share 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 analysts’ expectations of $513.91 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts forecast that The Aaron’s Company, Inc. will post -0.01 earnings per share for the current year.

Aaron’s Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.97%. The ex-dividend date is Friday, September 13th. Aaron’s’s 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.