Upbound Group, Inc. (NASDAQ:UPBD) Position Boosted by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 37.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 559,120 shares of the company's stock after acquiring an additional 153,551 shares during the period. Wellington Management Group LLP owned 0.97% of Upbound Group worth $16,310,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UPBD. Kennedy Capital Management LLC acquired a new position in Upbound Group in the 4th quarter valued at $10,214,000. Marshall Wace LLP raised its holdings in Upbound Group by 333.9% in the 4th quarter. Marshall Wace LLP now owns 350,949 shares of the company's stock valued at $10,237,000 after acquiring an additional 270,064 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Upbound Group in the 4th quarter valued at $5,201,000. Victory Capital Management Inc. raised its holdings in Upbound Group by 171.9% in the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock valued at $7,806,000 after acquiring an additional 169,197 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new position in Upbound Group in the 4th quarter valued at $4,883,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,694 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the acquisition, the director now owns 88,074 shares in the company, valued at approximately $1,751,791.86. This trade represents a 1.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Fahmi Karam purchased 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought 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 owns 164,672 shares in the company, valued at $4,251,831.04. This represents a 7.51% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 34,924 shares of company stock worth $846,711. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on UPBD shares. Loop Capital cut 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 reiterated an "outperform" rating and issued a $35.00 price target (down 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

Upbound Group Trading Up 1.4%

Shares of UPBD stock traded up $0.33 on Thursday, reaching $24.48. 453,939 shares of the stock were exchanged, compared to its average volume of 516,022. The stock has a market cap of $1.42 billion, a P/E ratio of 11.08 and a beta of 1.77. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. The firm has a 50 day moving average of $22.66 and a two-hundred day moving average of $26.90. Upbound Group, Inc. has a 1-year low of $19.69 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. On average, research analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $1.56 annualized dividend and a yield of 6.37%. Upbound Group's dividend payout ratio is currently 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.