Gabelli Funds LLC Makes New $3.23 Million Investment in The Aaron's Company, Inc. (NYSE:AAN)

Gabelli Funds LLC purchased a new stake in The Aaron's Company, Inc. (NYSE:AAN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 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 hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in Aaron's by 10.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,005,375 shares of the company's stock worth $10,938,000 after buying an additional 93,207 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Aaron's during the fourth quarter valued at approximately $147,000. Quest Partners LLC bought a new stake in Aaron's during the fourth quarter worth $123,000. Clark Estates Inc. NY boosted its holdings in shares of Aaron's by 13.4% in the 4th quarter. Clark Estates Inc. NY now owns 259,000 shares of the company's stock valued at $2,818,000 after purchasing an additional 30,700 shares in the last quarter. Finally, Bragg Financial Advisors Inc increased its stake in shares of Aaron's by 160.9% in the 4th quarter. Bragg Financial Advisors Inc now owns 200,791 shares of the company's stock valued at $2,185,000 after purchasing an additional 123,839 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Aaron's Stock Down 0.3 %

Shares of AAN traded down $0.03 on Wednesday, reaching $10.03. The stock had a trading volume of 1,477,637 shares, compared to its average volume of 548,635. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.70 and a current ratio of 1.02. The company has a 50-day simple moving average of $10.03 and a 200-day simple moving average of $8.73. The Aaron's Company, Inc. has a 12-month low of $6.62 and a 12-month high of $11.90. The firm has a market capitalization of $316.15 million, a price-to-earnings ratio of -12.70 and a beta of 1.43.

Aaron's (NYSE:AAN - Get Free Report) 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 the consensus estimate of $513.91 million. During the same period last year, the company earned $0.39 EPS. The business's revenue was down 5.1% on a year-over-year basis. Sell-side analysts predict that The Aaron's Company, Inc. will post -0.01 EPS for the current year.

Aaron's Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a $0.125 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.50 annualized dividend and a yield of 4.99%. Aaron's's dividend payout ratio is presently -63.29%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "hold" rating and issued a $10.10 price target (down from $11.00) on shares of Aaron's in a research note on Wednesday, July 10th. TD Cowen upped their price objective on Aaron's from $8.00 to $10.10 and gave the company a "hold" rating in a research note on Monday, June 17th. Truist Financial raised their price objective 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. 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. Finally, StockNews.com assumed coverage on Aaron's in a report on Monday. They issued a "hold" rating for the company. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.46.

Aaron's 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.