Sei Investments Co. Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Sei Investments Co. boosted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,090 shares of the company’s stock after acquiring an additional 2,298 shares during the period. Sei Investments Co.’s holdings in Upbound Group were worth $340,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of UPBD. Headlands Technologies LLC purchased a new stake in shares of Upbound Group in the first quarter valued at approximately $29,000. Blue Trust Inc. raised its holdings in shares of Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after acquiring an additional 362 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Upbound Group during the 2nd quarter valued at about $42,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after purchasing an additional 1,146 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Upbound Group during the second quarter worth about $89,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Trading Down 1.4 %

Shares of UPBD stock opened at $29.03 on Friday. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72. The firm has a market cap of $1.59 billion, a PE ratio of -63.11 and a beta of 2.00. The company has a 50-day moving average of $31.35 and a two-hundred day moving average of $31.97. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.01. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 EPS. On average, analysts predict that Upbound Group, Inc. will post 3.67 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 5.10%. The ex-dividend date is Tuesday, October 1st. Upbound Group’s payout ratio is -321.74%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Loop Capital reiterated a “hold” rating and issued a $36.00 price objective on shares of Upbound Group in a report on Friday, September 13th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Insider Activity at Upbound Group

In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the sale, the executive vice president now directly owns 40,074 shares in the company, valued at $1,301,603.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president now owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

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.