MQS Management LLC Takes $294,000 Position in Upbound Group, Inc. (NASDAQ:UPBD)

MQS Management LLC bought a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 9,571 shares of the company’s stock, valued at approximately $294,000.

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

Upbound Group Price Performance

Shares of UPBD stock opened at $30.33 on Friday. Upbound Group, Inc. has a 1 year low of $25.00 and a 1 year high of $38.72. 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 firm’s 50 day moving average is $32.61 and its 200-day moving average is $32.29. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -65.93 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.11 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.88%. Upbound Group’s dividend payout ratio is currently -321.74%.

Insider Buying and Selling at Upbound Group

In related news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at $498,134. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Ralph T. Montrone sold 15,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total value of $487,200.00. Following the transaction, the executive vice president now directly owns 40,074 shares in the company, valued at approximately $1,301,603.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Transient C. Taylor sold 15,127 shares of Upbound Group 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 of the company’s stock, valued at $498,134. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on UPBD shares. Loop Capital reaffirmed a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a report on Friday, September 13th. BTIG Research assumed coverage on shares of Upbound Group in a report on Friday, June 7th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group cut their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.40.

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.