GAMMA Investing LLC boosted its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 5,179.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,196 shares of the company's stock after buying an additional 11,965 shares during the period. GAMMA Investing LLC's holdings in Upbound Group were worth $292,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System grew its holdings in shares of Upbound Group by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 80,938 shares of the company's stock worth $2,361,000 after purchasing an additional 360 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after purchasing an additional 429 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Upbound Group by 2.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company's stock worth $773,000 after purchasing an additional 616 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Upbound Group by 3.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,515 shares of the company's stock worth $890,000 after purchasing an additional 1,122 shares in the last quarter. Finally, First National Advisers LLC grew its holdings in shares of Upbound Group by 2.6% during the 4th quarter. First National Advisers LLC now owns 66,910 shares of the company's stock worth $1,952,000 after purchasing an additional 1,674 shares in the last quarter. 90.30% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Raymond James Financial reissued an "outperform" rating and set 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, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $34.50.
Check Out Our Latest Stock Report on Upbound Group
Upbound Group Price Performance
UPBD traded down $0.04 during trading on Friday, hitting $24.22. The company's stock had a trading volume of 847,438 shares, compared to its average volume of 524,043. The firm's 50 day moving average price is $23.35 and its two-hundred day moving average price is $26.14. The company has a quick ratio of 0.80, a current ratio of 3.12 and a debt-to-equity ratio of 2.26. Upbound Group, Inc. has a 12 month low of $19.69 and a 12 month high of $38.72. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 11.37 and a beta of 1.73.
Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data 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 return on equity of 36.30% and a net margin of 2.74%. The firm 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 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts forecast that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.
Upbound Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.44%. Upbound Group's payout ratio is currently 73.24%.
Insider Transactions at Upbound Group
In other news, Director Jeffrey J. Brown bought 21,730 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was bought at an average price of $23.75 per share, for a total transaction of $516,087.50. Following the completion of the transaction, the director now directly owns 21,730 shares in the company, valued at $516,087.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.
About Upbound Group
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Free Report)
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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