Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Algert Global LLC

Algert Global LLC cut its position in Upbound Group, Inc. (NASDAQ:UPBD) by 17.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,316 shares of the company’s stock after selling 29,757 shares during the period. Algert Global LLC owned 0.27% of Upbound Group worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in UPBD. Headlands Technologies LLC acquired a new position in Upbound Group in the first quarter valued at about $29,000. Blue Trust Inc. increased its position in shares of Upbound Group by 47.9% during the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after acquiring an additional 362 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Upbound Group during the second quarter valued at about $42,000. Allspring Global Investments Holdings LLC increased its position in shares of Upbound Group by 232.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after acquiring 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 second quarter valued at about $89,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Stock Performance

Shares of UPBD opened at $32.43 on Monday. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 3.96. The stock has a market capitalization of $1.77 billion, a P/E ratio of -70.50 and a beta of 2.00. The company’s fifty day moving average is $32.46 and its two-hundred day moving average is $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 posted its quarterly earnings results 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. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.11 EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Upbound Group, Inc. will post 3.81 earnings per share for the current year.

Upbound Group Announces Dividend

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

Insider Buying and Selling

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated 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 in the company, valued at approximately $498,134. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jeffrey J. Brown acquired 1,031 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director now owns 84,169 shares in the company, valued at $2,509,919.58. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

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

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.