Engaged Capital LLC Has $35.83 Million Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Engaged Capital LLC trimmed its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 29.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,167,051 shares of the company’s stock after selling 498,657 shares during the quarter. Upbound Group accounts for 6.1% of Engaged Capital LLC’s holdings, making the stock its 7th biggest position. Engaged Capital LLC owned approximately 2.14% of Upbound Group worth $35,828,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. grew 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 in the last quarter. ProShare Advisors LLC grew its stake in shares of 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 in the last quarter. Louisiana State Employees Retirement System grew 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 in the last quarter. Texas Permanent School Fund Corp grew its stake 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 worth $1,372,000 after acquiring an additional 522 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Upbound Group during the 1st quarter worth approximately $29,000. 90.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Upbound Group news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ralph T. Montrone sold 15,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the sale, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Upbound Group Trading Up 1.3 %

NASDAQ UPBD opened at $31.24 on Thursday. The company has a market cap of $1.71 billion, a PE ratio of -67.91 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. Upbound Group, Inc. has a 12 month low of $25.00 and a 12 month high of $38.72. The stock has a 50 day moving average of $32.49 and a 200-day moving average of $32.24.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $1.11 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, October 1st. Upbound Group’s dividend payout ratio is -321.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on UPBD shares. BTIG Research started coverage on shares of Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 price target for the company. Jefferies Financial Group decreased their price target on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. Finally, Loop Capital reaffirmed a “hold” rating and set a $36.00 price target on shares of Upbound Group in a research note on Friday, September 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently 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.