Dynamic Technology Lab Private Ltd Reduces Position in Upbound Group, Inc. (NASDAQ:UPBD)

Dynamic Technology Lab Private Ltd lessened its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 25.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,133 shares of the company’s stock after selling 7,909 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Upbound Group were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. 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 acquiring an additional 362 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Upbound Group by 0.5% during the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock worth $2,578,000 after acquiring an additional 393 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Upbound Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock worth $464,000 after acquiring an additional 496 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of 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 last quarter. Finally, Covestor Ltd boosted its stake in shares of Upbound Group by 268.8% during the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after acquiring an additional 828 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Insiders Place Their Bets

In other Upbound Group news, Director Jeffrey J. Brown bought 1,065 shares of Upbound Group stock in a transaction dated Tuesday, October 22nd. The shares were purchased at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the acquisition, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Upbound Group Stock Up 0.1 %

Shares of UPBD stock opened at $34.45 on Friday. The stock has a market cap of $1.88 billion, a P/E ratio of 23.76 and a beta of 2.01. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The company’s fifty day simple moving average is $30.74 and its two-hundred day simple moving average is $31.62.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. The business 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%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Analysts predict that Upbound Group, Inc. will post 3.79 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.30%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s payout ratio is currently 102.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UPBD shares. Stephens initiated coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target on the stock. Loop Capital lowered their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Jefferies Financial Group lowered their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.17.

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.