Exchange Traded Concepts LLC Lowers Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Exchange Traded Concepts LLC decreased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 8.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,992 shares of the company’s stock after selling 881 shares during the period. Exchange Traded Concepts LLC’s holdings in Upbound Group were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of UPBD. Blue Trust Inc. raised its holdings 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 acquiring an additional 362 shares during the last quarter. ProShare Advisors LLC lifted its position in Upbound Group by 4.7% during the first quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock worth $373,000 after buying an additional 477 shares during the period. Louisiana State Employees Retirement System boosted its stake in Upbound Group by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after buying an additional 500 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Upbound Group by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock valued at $1,372,000 after buying an additional 522 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Upbound Group during the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Trading Down 2.3 %

NASDAQ UPBD opened at $29.89 on Friday. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -64.98 and a beta of 2.00. 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 one year low of $25.00 and a one year high of $38.72. The company’s 50 day moving average price is $31.01 and its 200 day moving average price is $31.75.

Upbound Group (NASDAQ:UPBD) last issued its earnings results 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 net margin of 1.31% and a return on equity of 32.94%. The business 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 firm posted $1.11 EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that Upbound Group, Inc. will post 3.67 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.95%. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Loop Capital restated a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a report on Friday, September 13th. Jefferies Financial Group decreased their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Activity at Upbound Group

In other Upbound Group news, EVP Ralph T. Montrone sold 15,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the sale, the executive vice president now owns 40,074 shares of the company’s stock, valued at $1,301,603.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on 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 owns 14,651 shares in the company, valued at $498,134. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction that occurred 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 sale, the executive vice president now owns 40,074 shares in the company, valued at $1,301,603.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.