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

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC purchased a new position in Upbound Group in the 4th quarter valued at $293,000. Raymond James Financial Inc. purchased a new stake in Upbound Group in the 4th quarter valued at approximately $3,922,000. 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 worth $110,000 after purchasing an additional 429 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Upbound Group in the 4th quarter valued at approximately $613,000. Finally, Natixis Advisors LLC boosted its stake in shares of Upbound Group by 524.6% in the fourth quarter. Natixis Advisors LLC now owns 64,282 shares of the company's stock valued at $1,875,000 after buying an additional 53,991 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Stock Performance

NASDAQ:UPBD traded up $0.62 on Tuesday, hitting $24.25. The company's stock had a trading volume of 567,055 shares, compared to its average volume of 534,500. The company has a current ratio of 3.12, a quick ratio of 0.80 and a debt-to-equity ratio of 2.26. Upbound Group, Inc. has a one year low of $19.69 and a one year high of $38.72. The stock has a fifty day moving average of $24.87 and a two-hundred day moving average of $25.34. The firm has a market capitalization of $1.40 billion, a P/E ratio of 11.38 and a beta of 1.74.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. Upbound Group had a net margin of 2.74% and a return on equity of 36.30%. The firm's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. Research analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Tuesday, June 17th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 6.43%. The ex-dividend date of this dividend was Tuesday, June 17th. Upbound Group's payout ratio is 73.24%.

Analysts Set New Price Targets

Separately, Raymond James Financial reiterated an "outperform" rating and issued a $35.00 target price (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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $34.50.

Insider Transactions at Upbound Group

In related news, Director Jeffrey J. Brown bought 21,730 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $23.75 per share, for a total transaction of $516,087.50. Following the completion of the acquisition, the director owned 21,730 shares of the company's stock, valued at $516,087.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.60% of the company's stock.

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.