Connor Clark & Lunn Investment Management Ltd. Purchases 91,519 Shares of Upbound Group, Inc. $UPBD

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Upbound Group by 435.7%, owning 112,524 shares worth approximately $2.7 million.
• Upbound Group reported earnings of $1.12 per share for the last quarter, exceeding analysts' expectations of $1.05, and had a revenue of $1.16 billion.
• The company announced a quarterly dividend of $0.39 per share, representing an annualized dividend yield of 6.7% and a payout ratio of 87.64%.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 435.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,524 shares of the company's stock after buying an additional 91,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Upbound Group worth $2,696,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Upbound Group by 5,179.7% during the first quarter. GAMMA Investing LLC now owns 12,196 shares of the company's stock valued at $292,000 after purchasing an additional 11,965 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of 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 buying an additional 4,555 shares during the period. SG Americas Securities LLC increased its holdings in shares of Upbound Group by 209.8% in the first quarter. SG Americas Securities LLC now owns 46,796 shares of the company's stock worth $1,121,000 after buying an additional 31,693 shares during the period. Deutsche Bank AG increased its holdings in shares of Upbound Group by 40.4% in the fourth quarter. Deutsche Bank AG now owns 47,670 shares of the company's stock worth $1,391,000 after buying an additional 13,713 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Upbound Group by 7.2% in the first quarter. Principal Financial Group Inc. now owns 255,244 shares of the company's stock worth $6,116,000 after buying an additional 17,237 shares during the period. Institutional investors own 90.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on UPBD shares. Raymond James Financial reiterated 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. Wall Street Zen downgraded Upbound Group from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Upbound Group currently has an average rating of "Moderate Buy" and a consensus price target of $34.50.

Upbound Group Stock Up 2.4%

NASDAQ UPBD traded up $0.57 during mid-day trading on Monday, reaching $23.84. The stock had a trading volume of 268,952 shares, compared to its average volume of 584,664. Upbound Group, Inc. has a 1 year low of $19.65 and a 1 year high of $36.00. The stock has a market cap of $1.38 billion, a PE ratio of 13.39 and a beta of 1.74. The company has a fifty day moving average price of $24.49 and a 200 day moving average price of $24.48. The company has a debt-to-equity ratio of 2.29, a current ratio of 3.11 and a quick ratio of 0.83.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. Upbound Group had a net margin of 2.28% and a return on equity of 36.26%. The company's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.04 EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Tuesday, June 17th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Tuesday, June 17th. Upbound Group's dividend payout ratio is 87.64%.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown acquired 1,653 shares of Upbound Group stock in a transaction dated 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 purchase, the director directly owned 89,400 shares of the company's stock, valued at approximately $2,315,460. This trade represents a 1.88% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible 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.