Sherbrooke Park Advisers LLC Invests $336,000 in Upbound Group, Inc. (NASDAQ:UPBD)

Sherbrooke Park Advisers LLC purchased a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,510 shares of the company's stock, valued at approximately $336,000.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its holdings in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company's stock worth $10,116,000 after purchasing an additional 94,333 shares during the period. Raymond James Financial Inc. acquired a new position in Upbound Group in the fourth quarter worth $3,922,000. Franklin Resources Inc. boosted its holdings in Upbound Group by 29.0% in the third quarter. Franklin Resources Inc. now owns 32,791 shares of the company's stock worth $963,000 after purchasing an additional 7,372 shares during the period. Vanguard Group Inc. boosted its holdings in Upbound Group by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock worth $197,804,000 after purchasing an additional 113,212 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Upbound Group by 3.4% in the fourth quarter. Legal & General Group Plc now owns 138,447 shares of the company's stock worth $4,038,000 after purchasing an additional 4,555 shares during the period. Institutional investors and hedge funds own 90.30% of the company's stock.

Wall Street Analyst Weigh In

UPBD has been the subject of a number of research reports. Loop Capital decreased their price objective on shares of 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 issued a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Upbound Group currently has an average rating of "Moderate Buy" and an average price target of $36.60.

Insider Activity

In related news, CFO Fahmi Karam acquired 11,500 shares of Upbound Group stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now directly owns 164,672 shares of the company's stock, valued at $4,251,831.04. This trade represents a 7.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey J. Brown acquired 21,730 shares of Upbound Group stock in a transaction that occurred on 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 acquisition, the director now directly owns 21,730 shares of the company's stock, valued at approximately $516,087.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 34,924 shares of company stock valued at $846,711. 2.70% of the stock is currently owned by company insiders.

Upbound Group Stock Performance

Shares of UPBD opened at $25.11 on Monday. Upbound Group, Inc. has a 1 year low of $19.69 and a 1 year high of $38.72. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 11.36 and a beta of 1.77. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. The firm has a fifty day moving average of $22.88 and a 200-day moving average of $27.67.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 6.21%. The ex-dividend date was Wednesday, April 2nd. Upbound Group's dividend payout ratio (DPR) is 73.24%.

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.

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