Algert Global LLC Increases Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Algert Global LLC raised its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 287,442 shares of the company's stock after buying an additional 21,781 shares during the quarter. Algert Global LLC owned about 0.53% of Upbound Group worth $8,385,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in UPBD. Kennedy Capital Management LLC bought a new position in shares of Upbound Group in the fourth quarter worth approximately $10,214,000. Marshall Wace LLP increased its holdings in shares of Upbound Group by 333.9% in the 4th quarter. Marshall Wace LLP now owns 350,949 shares of the company's stock worth $10,237,000 after buying an additional 270,064 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Upbound Group by 171.9% during the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock valued at $7,806,000 after buying an additional 169,197 shares in the last quarter. Brandywine Global Investment Management LLC bought a new stake in shares of Upbound Group during the 4th quarter worth $4,883,000. Finally, Wellington Management Group LLP grew its position in Upbound Group by 37.9% in the fourth quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock worth $16,310,000 after acquiring an additional 153,551 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UPBD. Loop Capital dropped their price target on Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Raymond James reaffirmed an "outperform" rating and issued a $35.00 target price (down previously from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.60.

Insider Activity at Upbound Group

In other Upbound Group news, CFO Fahmi Karam purchased 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $25.82 per share, with a total value of $296,930.00. Following the transaction, the chief financial officer now directly owns 164,672 shares in the company, valued at approximately $4,251,831.04. The trade was a 7.51 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown acquired 21,730 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was acquired at an average price of $23.75 per share, for a total transaction of $516,087.50. Following the acquisition, the director now owns 21,730 shares of the company's stock, valued at approximately $516,087.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 34,924 shares of company stock worth $846,711 over the last 90 days. 2.70% of the stock is owned by company insiders.

Upbound Group Trading Down 0.8 %

UPBD traded down $0.18 during trading on Wednesday, hitting $23.14. 588,986 shares of the stock traded hands, compared to its average volume of 503,933. The firm has a market capitalization of $1.34 billion, a P/E ratio of 10.47 and a beta of 1.77. Upbound Group, Inc. has a 12-month low of $19.69 and a 12-month high of $38.72. 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 has a 50-day moving average of $22.96 and a 200 day moving average of $27.84.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.13 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. Upbound Group's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. Equities research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.74%. The ex-dividend date was Wednesday, April 2nd. Upbound Group's dividend payout ratio (DPR) is currently 73.24%.

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.