Hennion & Walsh Asset Management Inc. Sells 12,139 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 43.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,102 shares of the company’s stock after selling 12,139 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Upbound Group were worth $567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new position in Upbound Group in the 4th quarter worth about $68,000. TFO Wealth Partners LLC boosted its position in shares of Upbound Group by 44,716.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock valued at $91,000 after acquiring an additional 2,683 shares during the period. Clear Street Markets LLC purchased a new position in Upbound Group during the fourth quarter valued at approximately $139,000. PNC Financial Services Group Inc. bought a new stake in Upbound Group during the 3rd quarter worth approximately $151,000. Finally, Saxon Interests Inc. purchased a new stake in Upbound Group in the 4th quarter worth approximately $201,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Stock Up 0.3 %

UPBD opened at $30.12 on Wednesday. The business’s fifty day simple moving average is $31.77 and its 200 day simple moving average is $32.73. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $36.17. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.23. The stock has a market cap of $1.65 billion, a PE ratio of -65.48, a P/E/G ratio of 4.03 and a beta of 2.02.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The company’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 EPS. As a group, research analysts expect that Upbound Group, Inc. will post 3.75 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.91%. Upbound Group’s dividend payout ratio (DPR) is -321.74%.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 991 shares of the stock in a transaction on Monday, April 22nd. The stock was acquired at an average cost of $30.68 per share, with a total value of $30,403.88. Following the completion of the purchase, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UPBD. TD Cowen assumed coverage on shares of Upbound Group in a report on Friday, March 8th. They issued an “outperform” rating and a $43.00 price target on the stock. BTIG Research assumed coverage on Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Upbound Group presently has a consensus rating of “Buy” and an average price target of $40.17.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.