Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP cut its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 68.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 9,413 shares of the company’s stock after selling 20,079 shares during the period. GSA Capital Partners LLP’s holdings in Upbound Group were worth $301,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Covestor Ltd raised its holdings in Upbound Group by 268.8% in the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after acquiring an additional 828 shares during the last quarter. Summit Global Investments acquired a new position in Upbound Group in the 3rd quarter valued at $1,216,000. Olympiad Research LP acquired a new position in Upbound Group in the 3rd quarter valued at $336,000. Amalgamated Bank raised its holdings in Upbound Group by 3.5% in the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock valued at $464,000 after acquiring an additional 496 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in Upbound Group by 0.5% in the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock valued at $2,578,000 after acquiring an additional 393 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Trading Up 2.5 %

Shares of UPBD opened at $33.80 on Friday. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $1.85 billion, a P/E ratio of 23.23 and a beta of 2.01. The stock’s fifty day simple moving average is $30.38 and its 200 day simple moving average is $31.55. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts forecast that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.38%. Upbound Group’s dividend payout ratio is currently 102.07%.

Insider Activity at Upbound Group

In other news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now directly owns 14,651 shares in the company, valued at $498,134. This trade represents a 50.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey J. Brown purchased 1,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Loop Capital cut their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Stephens started coverage on Upbound Group in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, Jefferies Financial Group cut their target price on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Upbound Group currently has an average rating of “Moderate Buy” and an average target price of $39.17.

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.