Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,644 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 16.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,539 shares of the company’s stock after buying an additional 1,644 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Upbound Group were worth $392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Secure Asset Management LLC grew its stake in Upbound Group by 1.2% during the fourth quarter. Secure Asset Management LLC now owns 37,702 shares of the company’s stock worth $1,281,000 after purchasing an additional 457 shares during the period. Wolff Wiese Magana LLC acquired a new stake in shares of Upbound Group during the 3rd quarter worth approximately $29,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Upbound Group in the 3rd quarter valued at $32,000. Clearstead Advisors LLC bought a new stake in shares of Upbound Group in the 3rd quarter valued at $38,000. Finally, Bramshill Investments LLC bought a new position in Upbound Group during the third quarter worth $43,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on UPBD shares. KeyCorp lifted their price target on shares of Upbound Group from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. TD Cowen started coverage on Upbound Group in a research report on Friday, March 8th. They issued an “outperform” rating and a $43.00 target price for the company. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.17.

Upbound Group Stock Performance

UPBD opened at $30.77 on Friday. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $36.17. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -256.40, a PEG ratio of 4.14 and a beta of 1.99. The company’s fifty day moving average price is $32.84 and its two-hundred day moving average price is $31.88. The company has a current ratio of 3.12, a quick ratio of 0.65 and a debt-to-equity ratio of 2.33.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a negative net margin of 0.13% and a positive return on equity of 32.65%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. On average, analysts expect that Upbound Group, Inc. will post 3.76 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, April 2nd. This represents a $1.48 annualized dividend and a dividend yield of 4.81%. Upbound Group’s payout ratio is -1,233.23%.

Insider Buying and Selling

In other Upbound Group news, EVP Anthony J. Blasquez sold 12,485 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total transaction of $414,252.30. Following the transaction, the executive vice president now directly owns 58,967 shares in the company, valued at approximately $1,956,525.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jeffrey J. Brown purchased 991 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the acquisition, the director now owns 83,138 shares in the company, valued at $2,550,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Anthony J. Blasquez sold 12,485 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the completion of the sale, the executive vice president now owns 58,967 shares of the company’s stock, valued at approximately $1,956,525.06. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

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.