SG Capital Management LLC Buys Shares of 346,439 Upbound Group, Inc. (NASDAQ:UPBD)

SG Capital Management LLC bought a new stake in Upbound Group, Inc. (NASDAQ:UPBD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 346,439 shares of the company’s stock, valued at approximately $12,198,000. Upbound Group comprises 4.0% of SG Capital Management LLC’s investment portfolio, making the stock its 6th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Upbound Group by 29.6% in the 4th quarter. Raymond James & Associates now owns 74,603 shares of the company’s stock valued at $2,534,000 after acquiring an additional 17,042 shares during the period. Wakefield Asset Management LLLP raised its stake in shares of Upbound Group by 10.9% in the 4th quarter. Wakefield Asset Management LLLP now owns 25,241 shares of the company’s stock valued at $858,000 after acquiring an additional 2,482 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Upbound Group in the 4th quarter valued at approximately $758,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Upbound Group by 16.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,539 shares of the company’s stock valued at $392,000 after acquiring an additional 1,644 shares during the period. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of Upbound Group in the 4th quarter valued at approximately $68,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,031 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were bought at an average cost of $29.82 per share, with a total value of $30,744.42. Following the transaction, the director now owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Upbound Group Stock Down 2.8 %

UPBD traded down $0.98 during trading hours on Friday, hitting $34.19. 564,490 shares of the company’s stock were exchanged, compared to its average volume of 590,417. Upbound Group, Inc. has a 12-month low of $25.00 and a 12-month high of $38.72. The firm has a 50 day moving average of $32.29 and a 200 day moving average of $32.67. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.49 and a quick ratio of 0.72.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.11 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts expect that Upbound Group, Inc. will post 3.74 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Tuesday, June 18th. Upbound Group’s dividend payout ratio is presently -321.74%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on UPBD shares. BTIG Research started coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price target on the stock. Jefferies Financial Group cut their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.17.

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.