Point72 Asia Singapore Pte. Ltd. Cuts Position in Upbound Group, Inc. (NASDAQ:UPBD)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Upbound Group, Inc. (NASDAQ:UPBD) by 82.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 986 shares of the company’s stock after selling 4,773 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Upbound Group were worth $30,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of Upbound Group in the 2nd quarter worth about $606,000. Interval Partners LP raised its holdings 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 purchased a new position in shares of Upbound Group in the 4th quarter worth about $820,000. ClariVest Asset Management LLC raised its holdings in shares of Upbound Group by 36,691.7% in the 1st quarter. ClariVest Asset Management LLC now owns 30,905 shares of the company’s stock worth $1,088,000 after purchasing an additional 30,821 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in shares of Upbound Group by 78.4% in the 1st quarter. Edgestream Partners L.P. now owns 137,031 shares of the company’s stock worth $4,825,000 after purchasing an additional 60,203 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upbound Group

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Jefferies Financial Group cut their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday. Loop Capital reiterated a “hold” rating and set a $36.00 target price on shares of Upbound Group in a report on Friday, September 13th. Finally, BTIG Research began coverage on Upbound Group in a report on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

Upbound Group Price Performance

Shares of NASDAQ UPBD opened at $29.78 on Wednesday. Upbound Group, Inc. has a fifty-two week low of $25.00 and a fifty-two week high of $38.72. The business has a 50 day moving average price of $32.43 and a two-hundred day moving average price of $32.20. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. The firm has a market cap of $1.63 billion, a PE ratio of -64.74 and a beta of 2.00.

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

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.97%. Upbound Group’s dividend payout ratio (DPR) is presently -321.74%.

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.