Aigen Investment Management LP Makes New Investment in Upbound Group, Inc. (NASDAQ:UPBD)

Key Points

• Aigen Investment Management LP made a new investment of approximately $460,000 in Upbound Group, acquiring 19,216 shares of the stock.
• Analysts have expressed mixed views on Upbound Group's stock, with a consensus rating of "Moderate Buy" and a target price around $34.50.
• The company recently announced a quarterly dividend of $0.39, which provides an annual yield of 6.9% with a payout ratio of 87.64%.

Aigen Investment Management LP bought a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 19,216 shares of the company's stock, valued at approximately $460,000.

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Upbound Group by 4.4% during the 1st quarter. Invesco Ltd. now owns 454,124 shares of the company's stock worth $10,881,000 after acquiring an additional 19,305 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Upbound Group by 435.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,524 shares of the company's stock worth $2,696,000 after acquiring an additional 91,519 shares during the period. Headlands Technologies LLC boosted its position in Upbound Group by 5.4% during the 1st quarter. Headlands Technologies LLC now owns 28,445 shares of the company's stock worth $682,000 after acquiring an additional 1,467 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Upbound Group by 8.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,051,636 shares of the company's stock worth $25,197,000 after acquiring an additional 77,450 shares during the period. Finally, Vanguard Group Inc. boosted its position in Upbound Group by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 7,025,821 shares of the company's stock worth $168,339,000 after acquiring an additional 244,746 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Price Performance

Shares of NASDAQ:UPBD remained flat at $23.27 during midday trading on Friday. The stock had a trading volume of 611,602 shares, compared to its average volume of 869,834. Upbound Group, Inc. has a 52 week low of $19.65 and a 52 week high of $36.00. The company has a market capitalization of $1.35 billion, a P/E ratio of 13.07 and a beta of 1.74. The company has a quick ratio of 0.83, a current ratio of 3.11 and a debt-to-equity ratio of 2.29. The stock's fifty day simple moving average is $24.49 and its two-hundred day simple moving average is $24.55.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Upbound Group had a return on equity of 36.26% and a net margin of 2.28%. The company's revenue was up 7.5% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, analysts forecast that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Tuesday, June 17th. Upbound Group's dividend payout ratio (DPR) is presently 87.64%.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 1,653 shares of Upbound Group stock in a transaction on Tuesday, July 8th. The shares were purchased at an average price of $25.90 per share, for a total transaction of $42,812.70. Following the completion of the acquisition, the director owned 89,400 shares in the company, valued at approximately $2,315,460. This represents a 1.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $35.00 target price (down previously from $40.00) on shares of Upbound Group in a research report on Friday, May 2nd. Wall Street Zen cut Upbound Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Upbound Group has a consensus rating of "Moderate Buy" and an average target price of $34.50.

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.