Ieq Capital LLC Sells 7,542 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Ieq Capital LLC trimmed its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 748,956 shares of the company’s stock after selling 7,542 shares during the quarter. Ieq Capital LLC owned approximately 1.37% of Upbound Group worth $21,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of UPBD. R Squared Ltd purchased a new stake in shares of Upbound Group during the fourth quarter valued at approximately $25,000. Covestor Ltd grew its holdings in Upbound Group by 268.8% in the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after acquiring an additional 828 shares during the last quarter. Blue Trust Inc. increased its position in shares of Upbound Group by 40.1% in the third quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock valued at $48,000 after acquiring an additional 448 shares during the period. Quarry LP raised its stake in shares of Upbound Group by 374.3% during the third quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after acquiring an additional 2,590 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Upbound Group during the third quarter worth about $142,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,146 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $29.01 per share, with a total value of $33,245.46. Following the transaction, the director now directly owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Upbound Group Trading Down 2.2 %

NASDAQ UPBD opened at $29.11 on Thursday. The firm has a market capitalization of $1.59 billion, a PE ratio of 20.08 and a beta of 2.05. The stock’s 50 day moving average is $29.73 and its 200 day moving average is $30.84. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02.

Upbound Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Wednesday, December 18th. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s payout ratio is 107.59%.

Analysts Set New Price Targets

UPBD has been the subject of a number of recent analyst reports. Loop Capital lowered their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, November 1st. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Finally, Stephens started coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price target on the stock. Two equities 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 company’s stock. According to MarketBeat.com, Upbound Group currently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

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.