Proficio Capital Partners LLC Purchases Shares of 10,034 Upbound Group, Inc. (NASDAQ:UPBD)

Proficio Capital Partners LLC acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 10,034 shares of the company’s stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UPBD. R Squared Ltd acquired a new position in Upbound Group during the 4th quarter worth $25,000. Blue Trust Inc. lifted its holdings in Upbound Group by 45.0% in the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after purchasing an additional 705 shares during the period. Quarry LP grew its position in Upbound Group by 374.3% in the 3rd quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after buying an additional 2,590 shares in the last quarter. Virtu Financial LLC acquired a new position in Upbound Group during the 3rd quarter valued at about $229,000. Finally, Blueshift Asset Management LLC bought a new stake in shares of Upbound Group during the 3rd quarter worth about $232,000. 90.30% of the stock is owned by institutional investors.

Insider Buying and Selling at Upbound Group

In other news, CFO Fahmi Karam acquired 11,500 shares of Upbound Group stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the transaction, the chief financial officer now owns 164,672 shares in the company, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now owns 86,380 shares in the company, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

UPBD has been the topic of a number of research analyst reports. TD Cowen upgraded shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Loop Capital lowered their price target on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Upbound Group Stock Performance

Shares of UPBD opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The firm’s 50 day moving average is $27.45 and its 200-day moving average is $29.64. Upbound Group, Inc. has a 12-month low of $23.35 and a 12-month high of $38.72. The stock has a market capitalization of $1.42 billion, a P/E ratio of 11.23 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Equities research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend is Wednesday, April 2nd. Upbound Group’s payout ratio is 70.59%.

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.