Upbound Group, Inc. (NASDAQ:UPBD) Stock Holdings Trimmed by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in Upbound Group, Inc. (NASDAQ:UPBD) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,577 shares of the company’s stock after selling 5,285 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of Upbound Group worth $834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in 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. Louisiana State Employees Retirement System boosted its stake in Upbound Group by 4.4% in the third quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the company’s stock valued at $752,000 after acquiring an additional 1,000 shares during the period. State of Alaska Department of Revenue boosted its stake in Upbound Group by 5.6% in the third quarter. State of Alaska Department of Revenue now owns 27,773 shares of the company’s stock valued at $888,000 after acquiring an additional 1,472 shares during the period. Trajan Wealth LLC acquired a new position in Upbound Group in the third quarter valued at approximately $200,000. Finally, New York State Teachers Retirement System boosted its stake in Upbound Group by 0.5% in the third quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock valued at $2,578,000 after acquiring an additional 393 shares during the period. 90.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on UPBD. Stephens began coverage on Upbound Group in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price for the company. Loop Capital decreased their target price on Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Finally, TD Cowen upgraded Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Upbound Group Stock Performance

Shares of NASDAQ UPBD opened at $26.60 on Friday. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The stock has a 50 day simple moving average of $29.23 and a 200-day simple moving average of $30.66. The company has a market cap of $1.53 billion, a PE ratio of 12.04 and a beta of 2.05. Upbound Group, Inc. has a 12-month low of $26.25 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. On average, equities research analysts forecast that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 5.86%. This is an increase from Upbound Group’s previous quarterly dividend of $0.37. The ex-dividend date was Wednesday, December 18th. Upbound Group’s dividend payout ratio is 70.59%.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown bought 1,146 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now directly owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by insiders.

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.