Upbound Group, Inc. (NASDAQ:UPBD) Stake Cut by Algert Global LLC

Algert Global LLC cut its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 145,316 shares of the company’s stock after selling 29,757 shares during the period. Algert Global LLC’s holdings in Upbound Group were worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in UPBD. Blue Trust Inc. lifted its stake in Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after buying an additional 362 shares during the last quarter. ProShare Advisors LLC boosted its position in Upbound Group by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock worth $373,000 after acquiring an additional 477 shares during the period. Louisiana State Employees Retirement System boosted its position in Upbound Group by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after acquiring an additional 500 shares during the period. Texas Permanent School Fund Corp lifted its holdings in shares of Upbound Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock valued at $1,372,000 after buying an additional 522 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new stake in shares of Upbound Group during the 1st quarter valued at about $29,000. 90.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UPBD. Jefferies Financial Group cut their price objective on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. Loop Capital restated a “hold” rating and set a $36.00 price objective on shares of Upbound Group in a research report on Friday, September 13th. Finally, BTIG Research began coverage on Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upbound Group has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $32.43 on Monday. The stock has a market cap of $1.77 billion, a P/E ratio of -70.50 and a beta of 2.00. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. The stock has a 50 day simple moving average of $32.46 and a 200 day simple moving average of $32.22. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.03 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. Upbound Group’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. Research analysts anticipate that Upbound Group, Inc. will post 3.81 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 4.56%. Upbound Group’s payout ratio is -321.74%.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 1,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the transaction, the director now directly owns 84,169 shares in the company, valued at $2,509,919.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the transaction, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeffrey J. Brown acquired 1,031 shares of the stock in a transaction dated Tuesday, July 9th. The stock was bought at an average cost of $29.82 per share, with a total value of $30,744.42. Following the completion of the purchase, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Upbound Group 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.