Upbound Group, Inc. (NASDAQ:UPBD) Stake Cut by Squarepoint Ops LLC

Squarepoint Ops LLC lessened its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 14.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,343 shares of the company’s stock after selling 3,232 shares during the quarter. Squarepoint Ops LLC’s holdings in Upbound Group were worth $594,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Upbound Group by 47.9% during the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Upbound Group by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock valued at $373,000 after acquiring an additional 477 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Upbound Group by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after acquiring an additional 500 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Upbound Group by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock worth $1,372,000 after acquiring an additional 522 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Upbound Group during the first quarter valued at $29,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity

In related news, EVP Ralph T. Montrone sold 15,000 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ralph T. Montrone sold 15,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the transaction, the executive vice president now owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The trade was 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.

Wall Street Analysts Forecast Growth

UPBD has been the topic of several research reports. Loop Capital reaffirmed a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. Jefferies Financial Group cut their price objective on shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Upbound Group Stock Performance

Shares of NASDAQ UPBD opened at $29.14 on Wednesday. The business’s 50-day simple moving average is $31.64 and its 200-day simple moving average is $32.01. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 3.96. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $38.72. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -63.35 and a beta of 2.00.

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

Upbound Group Announces Dividend

The company also recently declared 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. This represents a $1.48 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is -321.74%.

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.