Kingsview Wealth Management LLC Makes New Investment in Upbound Group, Inc. (NASDAQ:UPBD)

Kingsview Wealth Management LLC acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,271 shares of the company's stock, valued at approximately $366,000.

Other hedge funds have also recently bought and sold shares of the company. TD Private Client Wealth LLC lifted its position in 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 acquiring an additional 491 shares during the last quarter. CWM LLC raised its position in shares of Upbound Group by 35.5% in the first quarter. CWM LLC now owns 1,880 shares of the company's stock valued at $45,000 after buying an additional 493 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock valued at $110,000 after buying an additional 429 shares in the last quarter. Palouse Capital Management Inc. raised its position in shares of Upbound Group by 64.3% in the first quarter. Palouse Capital Management Inc. now owns 6,623 shares of the company's stock valued at $159,000 after buying an additional 2,592 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Upbound Group in the fourth quarter valued at approximately $221,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Trading Down 0.4%

Shares of Upbound Group stock traded down $0.10 during trading on Friday, hitting $25.08. The company's stock had a trading volume of 494,089 shares, compared to its average volume of 575,938. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 11.77 and a beta of 1.74. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.12 and a quick ratio of 0.80. Upbound Group, Inc. has a 52 week low of $19.68 and a 52 week high of $38.72. The stock has a 50-day moving average price of $24.87 and a two-hundred day moving average price of $25.25.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. Upbound Group had a net margin of 2.74% and a return on equity of 36.30%. Upbound Group's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 earnings per share. Equities research analysts anticipate 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 issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.56 annualized dividend and a dividend yield of 6.22%. Upbound Group's dividend payout ratio is currently 73.24%.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reissued 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, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Upbound Group has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 21,730 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $23.75 per share, with a total value of $516,087.50. Following the completion of the transaction, the director directly owned 21,730 shares in the company, valued at approximately $516,087.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.60% 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.