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

Voloridge Investment Management LLC boosted its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 101.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 147,893 shares of the company's stock after purchasing an additional 74,565 shares during the quarter. Voloridge Investment Management LLC owned 0.27% of Upbound Group worth $4,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vident Advisory LLC acquired a new stake in Upbound Group in the 4th quarter worth about $480,000. Twinbeech Capital LP acquired a new stake in Upbound Group in the 4th quarter worth about $1,341,000. Tidal Investments LLC acquired a new stake in Upbound Group in the 4th quarter worth about $522,000. Sherbrooke Park Advisers LLC acquired a new stake in Upbound Group in the 4th quarter worth about $336,000. Finally, Mork Capital Management LLC acquired a new stake in Upbound Group in the 4th quarter worth about $998,000. Institutional investors and hedge funds own 90.30% of the company's stock.

Upbound Group Trading Up 0.6%

Shares of NASDAQ:UPBD traded up $0.13 during trading on Friday, reaching $23.05. The stock had a trading volume of 607,369 shares, compared to its average volume of 514,002. The firm's fifty day moving average is $22.67 and its 200 day moving average is $27.10. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. Upbound Group, Inc. has a 52 week low of $19.69 and a 52 week high of $38.72. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 10.43 and a beta of 1.77.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.94 by $0.06. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd were issued a dividend of $0.39 per share. 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 (DPR) is presently 73.24%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UPBD shares. Raymond James reaffirmed an "outperform" rating and set a $35.00 price target (down previously from $40.00) on shares of Upbound Group in a report on Friday, May 2nd. Loop Capital lowered their price objective on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Upbound Group currently has a consensus rating of "Moderate Buy" and an average target price of $36.60.

Insider Transactions at Upbound Group

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