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

Canaan Partners XI LLC acquired a new stake 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 (SEC). The institutional investor acquired 38,824 shares of the company's stock, valued at approximately $930,000. Upbound Group accounts for approximately 1.4% of Canaan Partners XI LLC's investment portfolio, making the stock its 4th largest holding. Canaan Partners XI LLC owned 0.07% of Upbound Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System boosted its stake in Upbound Group by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 80,938 shares of the company's stock valued at $2,361,000 after buying an additional 360 shares during the period. PNC Financial Services Group Inc. boosted its position in Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock valued at $110,000 after acquiring an additional 429 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Upbound Group by 2.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company's stock worth $773,000 after purchasing an additional 616 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Upbound Group by 45.0% in the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock worth $73,000 after purchasing an additional 705 shares in the last quarter. Finally, R Squared Ltd bought a new position in Upbound Group in the 4th quarter valued at approximately $25,000. 90.30% of the stock is owned by institutional investors.

Upbound Group Stock Up 3.8%

NASDAQ UPBD traded up $0.94 on Friday, hitting $25.42. The stock had a trading volume of 492,704 shares, compared to its average volume of 516,861. The business's fifty day moving average price is $22.68 and its 200 day moving average price is $26.86. 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, Inc. has a 52-week low of $19.69 and a 52-week high of $38.72. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 11.50 and a beta of 1.73.

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

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.14%. Upbound Group's payout ratio is currently 73.24%.

Wall Street Analysts Forecast Growth

UPBD has been the subject of a number of research reports. Loop Capital decreased their target price on shares of 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 restated 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. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Upbound Group has an average rating of "Moderate Buy" and a consensus price target of $36.60.

Insider Buying and Selling at Upbound Group

In related news, CFO Fahmi Karam purchased 11,500 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the purchase, the chief financial officer now directly owns 164,672 shares of the company's stock, valued at $4,251,831.04. The trade was a 7.51% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown bought 1,694 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was purchased at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the acquisition, the director now owns 88,074 shares of the company's stock, valued at approximately $1,751,791.86. This represents a 1.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 34,924 shares of company stock valued at $846,711 in the last 90 days. 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.