LSV Asset Management Purchases 114,328 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Key Points

• LSV Asset Management increased its holdings in Upbound Group by 7.3%, now owning 1,689,151 shares valued at approximately $40.47 million.
• Wall Street analysts maintain a Moderate Buy rating for Upbound Group, with a revised average price target of $34.50.
• Upbound Group recently paid a quarterly dividend of $0.39, resulting in an annual yield of 7.5% and a payout ratio of 87.64%.

LSV Asset Management lifted its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 7.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,689,151 shares of the company's stock after purchasing an additional 114,328 shares during the period. LSV Asset Management owned about 2.92% of Upbound Group worth $40,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Blueshift Asset Management LLC acquired a new position in shares of Upbound Group in the 1st quarter worth approximately $204,000. Clark Estates Inc. NY purchased a new position in shares of Upbound Group in the first quarter worth approximately $1,845,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Upbound Group by 29.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,612 shares of the company's stock worth $374,000 after acquiring an additional 3,560 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Upbound Group by 36.8% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 243,915 shares of the company's stock worth $5,844,000 after acquiring an additional 65,616 shares in the last quarter. Finally, Optimist Retirement Group LLC increased its position in shares of Upbound Group by 15.8% in the first quarter. Optimist Retirement Group LLC now owns 9,257 shares of the company's stock worth $222,000 after acquiring an additional 1,266 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.

Upbound Group Stock Down 1.8%

Shares of UPBD stock traded down $0.40 during trading on Friday, hitting $21.50. 639,440 shares of the company were exchanged, compared to its average volume of 582,338. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.83 and a current ratio of 3.11. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 12.06 and a beta of 1.74. The business's 50-day simple moving average is $24.67 and its 200 day simple moving average is $24.85. Upbound Group, Inc. has a twelve month low of $19.65 and a twelve month high of $36.00.

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

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were paid a $0.39 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $1.56 dividend on an annualized basis and a yield of 7.3%. Upbound Group's payout ratio is 87.64%.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reissued an "outperform" rating and issued a $35.00 target price (down from $40.00) on shares of Upbound Group in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.50.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 1,653 shares of Upbound Group stock in a transaction on Tuesday, July 8th. The stock was purchased at an average cost of $25.90 per share, for a total transaction of $42,812.70. Following the completion of the purchase, the director directly owned 89,400 shares of the company's stock, valued at $2,315,460. The trade was a 1.88% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Upbound Group Company 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.