Lombard Odier Asset Management USA Corp Makes New $261,000 Investment in Upbound Group, Inc. (NASDAQ:UPBD)

Lombard Odier Asset Management USA Corp purchased a new position in Upbound Group, Inc. (NASDAQ:UPBD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,513 shares of the company’s stock, valued at approximately $261,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Upbound Group in the 4th quarter worth approximately $1,847,000. CoreCap Advisors LLC acquired a new position in shares of Upbound Group in the 2nd quarter worth approximately $606,000. Interval Partners LP lifted its position in shares of Upbound Group by 155.1% in the 1st quarter. Interval Partners LP now owns 96,131 shares of the company’s stock worth $3,385,000 after purchasing an additional 58,442 shares during the period. Napatree Capital LLC acquired a new position in shares of Upbound Group during the 4th quarter valued at $820,000. Finally, ClariVest Asset Management LLC lifted its position in shares of Upbound Group by 36,691.7% during the 1st quarter. ClariVest Asset Management LLC now owns 30,905 shares of the company’s stock valued at $1,088,000 after acquiring an additional 30,821 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on UPBD. BTIG Research began coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Loop Capital reiterated a “hold” rating and set a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. Finally, Jefferies Financial Group dropped 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 report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Upbound Group Stock Performance

UPBD opened at $30.39 on Tuesday. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. The company’s fifty day moving average price is $32.59 and its two-hundred day moving average price is $32.26. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72. The company has a market cap of $1.66 billion, a price-to-earnings ratio of -66.07 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. On average, analysts expect that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 4.87%. Upbound Group’s payout ratio is -321.74%.

Insider Transactions at Upbound Group

In other news, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares in the company, valued at approximately $498,134. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey J. Brown purchased 1,031 shares of Upbound Group stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the transaction, the director now owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

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.