Bank of America Corp DE Sells 314,106 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Bank of America Corp DE decreased its position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 66.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 162,143 shares of the company's stock after selling 314,106 shares during the period. Bank of America Corp DE owned about 0.30% of Upbound Group worth $4,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Barclays PLC lifted its position in Upbound Group by 42.5% during the third quarter. Barclays PLC now owns 316,225 shares of the company's stock valued at $10,116,000 after buying an additional 94,333 shares during the period. Raymond James Financial Inc. purchased a new position in Upbound Group during the fourth quarter valued at $3,922,000. Vanguard Group Inc. lifted its position in Upbound Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock valued at $197,804,000 after buying an additional 113,212 shares during the period. Legal & General Group Plc lifted its position in Upbound Group by 3.4% during the fourth quarter. Legal & General Group Plc now owns 138,447 shares of the company's stock valued at $4,038,000 after buying an additional 4,555 shares during the period. Finally, SG Americas Securities LLC lifted its position in Upbound Group by 240.2% during the fourth quarter. SG Americas Securities LLC now owns 15,103 shares of the company's stock valued at $441,000 after buying an additional 10,663 shares during the period. Institutional investors own 90.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Upbound Group Stock Performance

NASDAQ UPBD traded up $0.36 during trading hours on Monday, hitting $23.30. The company's stock had a trading volume of 587,441 shares, compared to its average volume of 514,295. Upbound Group, Inc. has a 12 month low of $19.69 and a 12 month high of $38.72. The company's 50 day simple moving average is $22.64 and its two-hundred day simple moving average is $27.00. The company has a market cap of $1.35 billion, a P/E ratio of 10.54 and a beta of 1.77. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.94 by $0.06. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.79 EPS. Upbound Group's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The firm 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. The ex-dividend date was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 6.70%. Upbound Group's dividend payout ratio is presently 73.24%.

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown purchased 21,730 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $23.75 per share, with a total value of $516,087.50. Following the acquisition, the director now owns 21,730 shares in the company, valued at approximately $516,087.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Fahmi Karam purchased 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at $4,251,831.04. This represents a 7.51% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 34,924 shares of company stock valued at $846,711. Corporate 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.