Nuveen Asset Management LLC Sells 134,532 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Nuveen Asset Management LLC cut its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,896 shares of the company's stock after selling 134,532 shares during the period. Nuveen Asset Management LLC owned about 1.00% of Upbound Group worth $16,011,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its holdings in shares of Upbound Group by 42.5% in the 3rd quarter. Barclays PLC now owns 316,225 shares of the company's stock worth $10,116,000 after buying an additional 94,333 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Upbound Group in the 4th quarter worth approximately $3,922,000. Vanguard Group Inc. raised its holdings in shares of Upbound Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock worth $197,804,000 after buying an additional 113,212 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Upbound Group by 3.4% in the 4th quarter. Legal & General Group Plc now owns 138,447 shares of the company's stock worth $4,038,000 after buying an additional 4,555 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Upbound Group by 240.2% in the 4th quarter. SG Americas Securities LLC now owns 15,103 shares of the company's stock worth $441,000 after buying an additional 10,663 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Trading Down 0.6%

Shares of NASDAQ UPBD traded down $0.14 during midday trading on Thursday, hitting $22.83. The stock had a trading volume of 195,909 shares, compared to its average volume of 510,699. The company's 50-day simple moving average is $22.75 and its 200 day simple moving average is $27.28. The firm has a market cap of $1.32 billion, a P/E ratio of 10.33 and a beta of 1.77. Upbound Group, Inc. has a fifty-two week low of $19.69 and a fifty-two week high of $38.72. 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 (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) 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 analyst estimates of $1.13 billion. During the same period last year, the company earned $0.79 EPS. The firm's revenue was up 7.3% on a year-over-year basis. Research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were given a $0.39 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $1.56 annualized dividend and a dividend yield of 6.83%. Upbound Group's dividend payout ratio is currently 73.24%.

Analyst Ratings Changes

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

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 21,730 shares of Upbound Group stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the completion of the acquisition, the director now owns 21,730 shares in the company, valued at approximately $516,087.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Fahmi Karam bought 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company's stock, valued at approximately $4,251,831.04. This represents a 7.51% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 34,924 shares of company stock worth $846,711 in the last three months. Insiders own 2.70% of the company's stock.

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.