Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Upbound Group, Inc. (NASDAQ:UPBD) by 77.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,863 shares of the company’s stock after selling 153,927 shares during the quarter. Millennium Management LLC owned about 0.08% of Upbound Group worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Upbound Group by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,515 shares of the company’s stock worth $890,000 after buying an additional 1,122 shares in the last quarter. Interval Partners LP grew its position in Upbound Group by 21.8% in the fourth quarter. Interval Partners LP now owns 65,842 shares of the company’s stock worth $1,921,000 after acquiring an additional 11,781 shares in the last quarter. Graham Capital Management L.P. grew its position in Upbound Group by 9.4% in the fourth quarter. Graham Capital Management L.P. now owns 42,452 shares of the company’s stock worth $1,238,000 after acquiring an additional 3,640 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Upbound Group by 40.4% during the 4th quarter. Deutsche Bank AG now owns 47,670 shares of the company’s stock worth $1,391,000 after buying an additional 13,713 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Upbound Group by 13.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 362,525 shares of the company’s stock worth $10,575,000 after buying an additional 42,695 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity at Upbound Group

In related news, CFO Fahmi Karam acquired 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of the transaction, the chief financial officer now directly owns 164,672 shares in the company, valued at $4,251,831.04. This trade represents a 7.51% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey J. Brown bought 1,694 shares of Upbound Group stock in a transaction dated Tuesday, April 22nd. The stock was acquired at an average cost of $19.89 per share, with a total value of $33,693.66. Following the transaction, the director now owns 88,074 shares of the company’s stock, valued at $1,751,791.86. This trade represents a 1.96% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 34,924 shares of company stock valued at $846,711. 2.70% of the stock is owned by corporate insiders.

Upbound Group Stock Performance

Shares of NASDAQ:UPBD opened at $24.29 on Wednesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.99 and a beta of 1.77. The firm’s 50 day simple moving average is $22.64 and its 200 day simple moving average is $26.98. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. Upbound Group, Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. As a group, sell-side analysts forecast that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.42%. Upbound Group’s dividend payout ratio (DPR) is presently 73.24%.

Analyst Upgrades and Downgrades

UPBD has been the subject of several research analyst reports. Loop Capital cut their target price on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Raymond James restated an “outperform” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

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.