Upbound Group, Inc. (NASDAQ:UPBD) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 5.6% during the third quarter, Holdings Channel.com reports. The fund owned 27,773 shares of the company’s stock after acquiring an additional 1,472 shares during the period. State of Alaska Department of Revenue’s holdings in Upbound Group were worth $888,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of Upbound Group during the 1st quarter worth about $29,000. Blue Trust Inc. boosted its stake in shares of Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after purchasing an additional 362 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Upbound Group during the 2nd quarter worth about $42,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Upbound Group by 232.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Upbound Group during the 2nd quarter worth about $89,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Trading Up 2.8 %

Shares of UPBD stock opened at $30.91 on Wednesday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 21.32 and a beta of 2.01. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. Upbound Group, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $38.72. The firm’s 50 day moving average price is $30.14 and its two-hundred day moving average price is $31.43.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. Upbound Group’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. On average, analysts anticipate that Upbound Group, Inc. will post 3.81 EPS for the current year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.79%. Upbound Group’s payout ratio is currently 102.07%.

Insider Transactions at Upbound Group

In other news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at $498,134. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares of the company’s stock, valued at $2,493,094.50. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

UPBD has been the subject of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 1st. Loop Capital lowered their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.40.

Upbound Group Company Profile

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.