Aristides Capital LLC Purchases Shares of 6,926 Upbound Group, Inc. (NASDAQ:UPBD)

Aristides Capital LLC bought a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,926 shares of the company’s stock, valued at approximately $213,000.

Other institutional investors also recently added to or reduced their stakes in the company. Ieq Capital LLC increased its holdings in shares of Upbound Group by 112.7% in the second quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock valued at $148,190,000 after purchasing an additional 2,557,906 shares during the period. LSV Asset Management grew its stake in shares of Upbound Group by 43.0% during the 1st quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock worth $59,635,000 after purchasing an additional 509,343 shares during the period. Marshall Wace LLP grew its stake in shares of Upbound Group by 1,903.6% during the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after purchasing an additional 376,129 shares during the period. Norges Bank acquired a new position in shares of Upbound Group during the 4th quarter worth $12,170,000. Finally, SG Capital Management LLC acquired a new position in shares of Upbound Group during the 1st quarter worth $12,198,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UPBD. BTIG Research began 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 on the stock. Jefferies Financial Group lowered their price target 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. Finally, Loop Capital reissued a “hold” rating and issued a $36.00 price objective on shares of Upbound Group in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Upbound Group has an average rating of “Moderate Buy” and an average price target of $40.00.

Insiders Place Their Bets

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm’s 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 sale, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey J. Brown acquired 1,031 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Upbound Group Price Performance

Shares of NASDAQ UPBD opened at $29.78 on Wednesday. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $38.72. The company’s 50-day moving average price is $32.43 and its 200 day moving average price is $32.20. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating 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 firm 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 earned $1.11 EPS. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts expect that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid 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 4.97%. Upbound Group’s dividend payout ratio is currently -321.74%.

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.