Canaan Partners XI LLC Invests $930,000 in Upbound Group, Inc. (NASDAQ:UPBD)

Canaan Partners XI LLC acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 38,824 shares of the company's stock, valued at approximately $930,000. Upbound Group comprises 1.4% of Canaan Partners XI LLC's investment portfolio, making the stock its 4th biggest holding. Canaan Partners XI LLC owned about 0.07% of Upbound Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Upbound Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock valued at $197,804,000 after acquiring an additional 113,212 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Upbound Group by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,328,229 shares of the company's stock worth $67,913,000 after purchasing an additional 92,766 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Upbound Group by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,186 shares of the company's stock worth $28,417,000 after purchasing an additional 60,139 shares during the period. Huber Capital Management LLC increased its position in shares of Upbound Group by 2.2% in the fourth quarter. Huber Capital Management LLC now owns 856,147 shares of the company's stock worth $24,974,000 after purchasing an additional 18,343 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Upbound Group by 15.2% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 799,757 shares of the company's stock worth $23,329,000 after purchasing an additional 105,380 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown bought 21,730 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the purchase, the director now directly owns 21,730 shares of the company's stock, valued at $516,087.50. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Fahmi Karam purchased 11,500 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the transaction, the chief financial officer now 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 disclosure for this purchase can be found here. Insiders have bought 34,924 shares of company stock valued at $846,711 in the last 90 days. Insiders own 2.70% of the company's stock.

Upbound Group Stock Down 0.6%

Upbound Group stock traded down $0.14 during trading on Wednesday, hitting $24.15. 507,833 shares of the company were exchanged, compared to its average volume of 515,015. The business's 50 day moving average is $22.64 and its 200 day moving average is $26.98. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. Upbound Group, Inc. has a 52 week low of $19.69 and a 52 week high of $38.72. The company has a market capitalization of $1.40 billion, a P/E ratio of 10.93 and a beta of 1.77.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.00 earnings per share 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 business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The business's revenue was up 7.3% on a year-over-year basis. Analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.46%. Upbound Group's dividend payout ratio is presently 73.24%.

Analysts Set New Price Targets

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

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.