Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,392 shares of the company's stock after selling 89,586 shares during the period. Teacher Retirement System of Texas' holdings in Upbound Group were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kendall Capital Management boosted its position in Upbound Group by 13.6% in the 1st quarter. Kendall Capital Management now owns 91,995 shares of the company's stock valued at $2,204,000 after buying an additional 11,045 shares during the last quarter. Diversified Trust Co purchased a new position in Upbound Group in the 1st quarter valued at about $345,000. State of Alaska Department of Revenue boosted its position in Upbound Group by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 28,301 shares of the company's stock valued at $678,000 after buying an additional 692 shares during the last quarter. Palouse Capital Management Inc. boosted its position 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 buying an additional 2,592 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in Upbound Group by 209.8% in the 1st quarter. SG Americas Securities LLC now owns 46,796 shares of the company's stock valued at $1,121,000 after buying an additional 31,693 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 21,730 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $23.75 per share, with a total value of $516,087.50. Following the completion of the acquisition, the director directly owned 21,730 shares of the company's stock, valued at approximately $516,087.50. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have bought a total of 25,077 shares of company stock valued at $592,594 over the last quarter. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial reaffirmed an "outperform" rating and set a $35.00 price target (down previously from $40.00) on shares of Upbound Group in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Upbound Group currently has an average rating of "Moderate Buy" and an average target price of $34.50.

Upbound Group Stock Performance

Shares of UPBD stock opened at $24.43 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.80 and a current ratio of 3.12. Upbound Group, Inc. has a one year low of $19.69 and a one year high of $38.72. The company's 50-day simple moving average is $24.92 and its 200-day simple moving average is $25.43. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.47 and a beta of 1.74.

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. Equities analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were issued 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.