Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 781,016 shares of the company's stock after selling 16,462 shares during the period. Bank of New York Mellon Corp owned approximately 1.35% of Upbound Group worth $18,713,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UPBD. PNC Financial Services Group Inc. increased its holdings in Upbound Group by 12.8% in 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 in the last quarter. Palouse Capital Management Inc. increased its holdings in Upbound Group by 64.3% in the 1st quarter. Palouse Capital Management Inc. now owns 6,623 shares of the company's stock valued at $159,000 after purchasing an additional 2,592 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in Upbound Group in the 4th quarter valued at $221,000. Crestline Management LP acquired a new stake in Upbound Group in the 4th quarter valued at $230,000. Finally, GAMMA Investing LLC increased its holdings in Upbound Group by 5,179.7% in the 1st 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. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial restated an "outperform" rating and set a $35.00 target price (down from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Upbound Group presently has a consensus rating of "Moderate Buy" and an average price target of $34.50.

Upbound Group Stock Down 0.6%

Shares of Upbound Group stock opened at $24.43 on Friday. The business has a 50-day moving average of $24.92 and a 200-day moving average of $25.43. The company has a debt-to-equity ratio of 2.26, a current ratio of 3.12 and a quick ratio of 0.80. The company has a market capitalization of $1.41 billion, a PE ratio of 11.47 and a beta of 1.74. 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 issued its quarterly earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter last year, the company posted $0.79 earnings per share. The company's quarterly revenue was up 7.3% compared to the same quarter last year. As a group, equities analysts forecast that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $1.56 dividend on an annualized basis and a yield of 6.39%. Upbound Group's payout ratio is currently 73.24%.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 21,730 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was bought at an average cost of $23.75 per share, for a total transaction of $516,087.50. Following the completion of the purchase, the director directly owned 21,730 shares in the company, valued at approximately $516,087.50. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 25,077 shares of company stock valued at $592,594 in the last three months. Insiders own 2.60% of the company's stock.

Upbound Group 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.

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