Upbound Group, Inc. $UPBD Stake Increased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its stake in Upbound Group, Inc. by 134.3%, acquiring an additional 19,092 shares, bringing its total ownership to 33,309 shares valued at approximately $798,000.
• Several institutional investors have also boosted their stakes in Upbound Group, with Russell Investments Group and Public Sector Pension Investment Board increasing their holdings by 63.7% and 33.5%, respectively.
• Upbound Group recently announced a $0.39 quarterly dividend, resulting in an annualized yield of 6.7%, despite a payout ratio of 87.64%.

Fox Run Management L.L.C. lifted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 134.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,309 shares of the company's stock after buying an additional 19,092 shares during the period. Fox Run Management L.L.C. owned approximately 0.06% of Upbound Group worth $798,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. TD Private Client Wealth LLC boosted its position in shares of Upbound Group by 59.9% during the first quarter. TD Private Client Wealth LLC now owns 1,311 shares of the company's stock worth $31,000 after buying an additional 491 shares during the period. CWM LLC boosted its position in shares of Upbound Group by 35.5% during the first quarter. CWM LLC now owns 1,880 shares of the company's stock worth $45,000 after buying an additional 493 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Upbound Group by 2.6% during the first quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the company's stock worth $577,000 after buying an additional 600 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Upbound Group by 2.5% during the first quarter. State of Alaska Department of Revenue now owns 28,301 shares of the company's stock worth $678,000 after buying an additional 692 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Upbound Group by 3.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,515 shares of the company's stock worth $890,000 after buying an additional 1,122 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown acquired 1,653 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was bought at an average price of $25.90 per share, for a total transaction of $42,812.70. Following the transaction, the director owned 89,400 shares of the company's stock, valued at approximately $2,315,460. The trade was a 1.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

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

Upbound Group Price Performance

NASDAQ UPBD traded up $0.73 on Monday, reaching $24.00. 561,203 shares of the stock traded hands, compared to its average volume of 876,201. The firm's fifty day simple moving average is $24.46 and its 200 day simple moving average is $24.44. 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 company has a market cap of $1.39 billion, a price-to-earnings ratio of 13.48 and a beta of 1.74. Upbound Group, Inc. has a 12 month low of $19.65 and a 12 month high of $36.00.

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

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date was Tuesday, June 17th. Upbound Group's dividend payout ratio is 87.64%.

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.