GAMMA Investing LLC Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

GAMMA Investing LLC raised its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 5,179.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in UPBD. New York State Teachers Retirement System increased its stake in shares of Upbound Group by 0.4% during the fourth quarter. New York State Teachers Retirement System now owns 80,938 shares of the company's stock valued at $2,361,000 after buying an additional 360 shares during the period. PNC Financial Services Group Inc. increased its position in Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock valued at $110,000 after purchasing an additional 429 shares during the period. Illinois Municipal Retirement Fund increased its position in Upbound Group by 2.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company's stock valued at $773,000 after purchasing an additional 616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Upbound Group by 3.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,515 shares of the company's stock valued at $890,000 after purchasing an additional 1,122 shares in the last quarter. Finally, First National Advisers LLC lifted its position in shares of Upbound Group by 2.6% in 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 during the period. 90.30% of the stock is currently owned by institutional investors.

Upbound Group Stock Down 1.6%

Shares of NASDAQ UPBD traded down $0.40 during mid-day trading on Wednesday, reaching $24.54. 609,431 shares of the company were exchanged, compared to its average volume of 526,201. Upbound Group, Inc. has a 1 year low of $19.69 and a 1 year high of $38.72. The firm has a 50-day moving average of $23.58 and a 200 day moving average of $26.05. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 11.52 and a beta of 1.73. 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 (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. Upbound Group had a net margin of 2.74% and a return on equity of 36.30%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm posted $0.79 earnings per share. The company's quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts expect that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th will be paid a $0.39 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $1.56 annualized dividend and a yield of 6.36%. Upbound Group's dividend payout ratio (DPR) is 73.24%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reiterated an "outperform" rating and set a $35.00 price objective (down from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

Insiders Place Their Bets

In other Upbound Group news, Director Jeffrey J. Brown bought 21,730 shares of Upbound Group stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $23.75 per share, with a total value of $516,087.50. Following the transaction, the director now directly owns 21,730 shares of the company's stock, valued at approximately $516,087.50. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company's stock.

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.