Ieq Capital LLC Cuts Position in Upbound Group, Inc. (NASDAQ:UPBD)

Ieq Capital LLC reduced its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,406,940 shares of the company's stock after selling 25,469 shares during the period. Upbound Group comprises 0.8% of Ieq Capital LLC's holdings, making the stock its 24th largest position. Ieq Capital LLC owned about 2.59% of Upbound Group worth $47,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Secure Asset Management LLC boosted its holdings in Upbound Group by 1.2% in the 4th quarter. Secure Asset Management LLC now owns 37,702 shares of the company's stock worth $1,281,000 after buying an additional 457 shares during the last quarter. Wolff Wiese Magana LLC purchased a new stake in shares of Upbound Group during the third quarter worth approximately $29,000. DekaBank Deutsche Girozentrale acquired a new position in Upbound Group in the 3rd quarter valued at $32,000. Clearstead Advisors LLC purchased a new position in Upbound Group in the 3rd quarter valued at $38,000. Finally, Bramshill Investments LLC acquired a new stake in Upbound Group during the 3rd quarter worth $43,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UPBD has been the topic of several research reports. TD Cowen began coverage on shares of Upbound Group in a research note on Friday, March 8th. They issued an "outperform" rating and a $43.00 price target on the stock. KeyCorp upped their price target on Upbound Group from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Upbound Group has a consensus rating of "Buy" and an average target price of $38.17.

Upbound Group Trading Up 1.5 %

Shares of Upbound Group stock traded up $0.50 during mid-day trading on Monday, hitting $33.15. The stock had a trading volume of 420,661 shares, compared to its average volume of 387,693. The firm has a 50-day moving average of $32.72 and a two-hundred day moving average of $32.11. The firm has a market cap of $1.81 billion, a P/E ratio of -72.07, a price-to-earnings-growth ratio of 4.27 and a beta of 1.99. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.23. Upbound Group, Inc. has a 12-month low of $25.00 and a 12-month high of $36.17.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.02. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Upbound Group, Inc. will post 3.76 earnings per share for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Wednesday, April 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date was Tuesday, April 2nd. Upbound Group's dividend payout ratio is presently -321.74%.

Insider Activity

In related news, Director Jeffrey J. Brown acquired 991 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average price of $30.68 per share, with a total value of $30,403.88. Following the transaction, the director now owns 83,138 shares of the company's stock, valued at approximately $2,550,673.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Upbound Group news, EVP Anthony J. Blasquez sold 12,485 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the sale, the executive vice president now directly owns 58,967 shares in the company, valued at $1,956,525.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown purchased 991 shares of Upbound Group stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $30.68 per share, for a total transaction of $30,403.88. Following the transaction, the director now directly owns 83,138 shares of the company's stock, valued at approximately $2,550,673.84. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

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.

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