Fisher Asset Management LLC Cuts Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Fisher Asset Management LLC cut its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 12.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 151,062 shares of the company’s stock after selling 21,279 shares during the quarter. Fisher Asset Management LLC owned approximately 0.28% of Upbound Group worth $5,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sierra Summit Advisors LLC acquired a new position in shares of Upbound Group during the fourth quarter worth about $559,000. Optimist Retirement Group LLC acquired a new position in shares of Upbound Group during the fourth quarter worth about $339,000. Bragg Financial Advisors Inc grew its position in shares of Upbound Group by 14.4% during the fourth quarter. Bragg Financial Advisors Inc now owns 242,613 shares of the company’s stock worth $8,242,000 after buying an additional 30,513 shares in the last quarter. Clear Street Markets LLC acquired a new position in shares of Upbound Group during the fourth quarter worth about $139,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Upbound Group during the fourth quarter worth about $1,847,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Stock Down 0.6 %

UPBD opened at $31.33 on Friday. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.23. The firm has a market cap of $1.71 billion, a P/E ratio of -68.11, a PEG ratio of 4.13 and a beta of 2.03. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $36.17. The business’s fifty day simple moving average is $31.84 and its 200 day simple moving average is $32.78.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. As a group, equities research analysts anticipate that Upbound Group, Inc. will post 3.76 EPS for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, June 18th. Upbound Group’s payout ratio is -321.74%.

Insiders Place Their Bets

In other Upbound Group news, Director Jeffrey J. Brown purchased 991 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $30.68 per share, with a total value of $30,403.88. Following the purchase, the director now owns 83,138 shares in the company, valued at $2,550,673.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UPBD shares. TD Cowen assumed coverage on Upbound Group in a report on Friday, March 8th. They issued an “outperform” rating and a $43.00 price target for the company. BTIG Research initiated coverage on Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 price target for the company. Finally, KeyCorp increased their price objective on Upbound Group from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Upbound Group has a consensus rating of “Buy” and a consensus target price of $40.17.

Upbound Group 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.