Renaissance Technologies LLC Decreases Position in Upbound Group, Inc. (NASDAQ:UPBD)

Renaissance Technologies LLC lowered its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 29.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,012 shares of the company’s stock after selling 9,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Upbound Group were worth $706,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Clear Street Markets LLC purchased a new stake in Upbound Group during the 4th quarter worth about $139,000. Bragg Financial Advisors Inc raised its holdings in Upbound Group by 14.4% in the fourth quarter. Bragg Financial Advisors Inc now owns 242,613 shares of the company’s stock valued at $8,242,000 after acquiring an additional 30,513 shares in the last quarter. Optimist Retirement Group LLC purchased a new position in Upbound Group in the fourth quarter worth approximately $339,000. Sierra Summit Advisors LLC acquired a new position in Upbound Group during the 4th quarter worth approximately $559,000. Finally, Napatree Capital LLC purchased a new stake in shares of Upbound Group in the 4th quarter valued at approximately $820,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Stock Down 1.8 %

UPBD stock opened at $29.14 on Wednesday. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -63.35 and a beta of 2.00. The company has a fifty day moving average price of $31.64 and a 200 day moving average price of $32.01. 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, Inc. has a 12 month low of $25.00 and a 12 month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. The business 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 business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Sell-side analysts expect that Upbound Group, Inc. will post 3.67 earnings per share for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Tuesday, October 1st. Upbound Group’s dividend payout ratio is presently -321.74%.

Insider Activity at Upbound Group

In other news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares in the company, valued at approximately $498,134. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the 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 completion of the transaction, the executive vice president now owns 40,074 shares in the company, valued at approximately $1,301,603.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value 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 approximately $498,134. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on UPBD shares. Loop Capital reaffirmed a “hold” rating and issued a $36.00 price target on shares of Upbound Group in a report on Friday, September 13th. Jefferies Financial Group dropped 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, October 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Upbound Group has an average rating of “Moderate Buy” and an average price target of $40.00.

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.