Voloridge Investment Management LLC Buys 74,565 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Voloridge Investment Management LLC increased its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 101.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 147,893 shares of the company's stock after buying an additional 74,565 shares during the period. Voloridge Investment Management LLC owned about 0.27% of Upbound Group worth $4,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Upbound Group in the fourth quarter worth $25,000. Blue Trust Inc. grew its position in shares of Upbound Group by 45.0% during the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock worth $73,000 after acquiring an additional 705 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Upbound Group by 12.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after acquiring an additional 429 shares during the last quarter. Vestcor Inc acquired a new stake in Upbound Group in the fourth quarter worth about $174,000. Finally, Freestone Grove Partners LP acquired a new stake in Upbound Group in the fourth quarter worth about $221,000. Institutional investors own 90.30% of the company's stock.

Insider Buying and Selling

In other news, CFO Fahmi Karam acquired 11,500 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company's stock, valued at approximately $4,251,831.04. This represents a 7.51% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown acquired 1,694 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The stock was purchased at an average price of $19.89 per share, for a total transaction of $33,693.66. Following the acquisition, the director now directly owns 88,074 shares of the company's stock, valued at $1,751,791.86. The trade was a 1.96% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 34,924 shares of company stock worth $846,711. Insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UPBD. Loop Capital reduced their price objective on shares of 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 restated an "outperform" rating and set a $35.00 price objective (down previously from $40.00) on shares of Upbound Group in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Upbound Group has an average rating of "Moderate Buy" and a consensus price target of $36.60.

Upbound Group Stock Up 0.6%

Shares of UPBD traded up $0.13 during trading hours on Friday, reaching $23.05. The company's stock had a trading volume of 607,369 shares, compared to its average volume of 513,807. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 10.43 and a beta of 1.77. Upbound Group, Inc. has a 1-year low of $19.69 and a 1-year high of $38.72. 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 company has a 50 day moving average of $22.67 and a two-hundred day moving average of $27.14.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its 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 return on equity of 35.47% and a net margin of 2.86%. The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS. As a group, research analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 6.77%. Upbound Group's dividend payout ratio is currently 73.24%.

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.