Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,796,072 shares of the company’s stock after selling 6,200 shares during the quarter. Vanguard Group Inc. owned 10.65% of Upbound Group worth $196,893,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Sierra Summit Advisors LLC acquired a new position in Upbound Group during the 4th quarter worth approximately $559,000. Optimist Retirement Group LLC purchased a new position in shares of Upbound Group in the fourth quarter valued at $339,000. Bragg Financial Advisors Inc grew its holdings in Upbound Group by 14.4% during the 4th quarter. Bragg Financial Advisors Inc now owns 242,613 shares of the company’s stock valued at $8,242,000 after purchasing an additional 30,513 shares in the last quarter. Clear Street Markets LLC purchased a new stake in Upbound Group during the 4th quarter worth $139,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Upbound Group in the 4th quarter worth $1,847,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UPBD. TD Cowen began coverage on Upbound Group in a research report on Friday, March 8th. They set an “outperform” rating and a $43.00 target price on the stock. BTIG Research began coverage on Upbound Group in a report on Friday, June 7th. They set a “buy” rating and a $45.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Upbound Group currently has a consensus rating of “Buy” and a consensus price target of $40.17.

Upbound Group Stock Up 0.3 %

Shares of Upbound Group stock opened at $30.12 on Wednesday. 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 business has a 50-day moving average price of $31.77 and a 200 day moving average price of $32.73. Upbound Group, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $36.17. The firm has a market cap of $1.65 billion, a P/E ratio of -65.48, a P/E/G ratio of 4.03 and a beta of 2.02.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Upbound Group, Inc. will post 3.75 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $1.48 annualized dividend and a yield of 4.91%. Upbound Group’s dividend payout ratio (DPR) is -321.74%.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 991 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was bought at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the purchase, the director now directly owns 83,138 shares in the company, valued at approximately $2,550,673.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is owned by company insiders.

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.