Renaissance Technologies LLC Has $2.37 Million Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Renaissance Technologies LLC increased its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 617.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,200 shares of the company's stock after acquiring an additional 69,888 shares during the quarter. Renaissance Technologies LLC owned approximately 0.15% of Upbound Group worth $2,369,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Upbound Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company's stock worth $197,804,000 after purchasing an additional 113,212 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Upbound Group by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 974,186 shares of the company's stock valued at $28,417,000 after buying an additional 60,139 shares during the period. Huber Capital Management LLC grew its holdings in Upbound Group by 2.2% in the 4th quarter. Huber Capital Management LLC now owns 856,147 shares of the company's stock worth $24,974,000 after acquiring an additional 18,343 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Upbound Group by 7.4% in the fourth quarter. Bank of New York Mellon Corp now owns 797,478 shares of the company's stock valued at $23,262,000 after acquiring an additional 54,771 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Upbound Group by 37.9% during the fourth quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock valued at $16,310,000 after purchasing an additional 153,551 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,694 shares of the stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the transaction, the director now owns 88,074 shares in the company, valued at approximately $1,751,791.86. This trade represents a 1.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Fahmi Karam bought 11,500 shares of the company's stock in a transaction on Monday, March 10th. The stock was purchased 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 owns 164,672 shares in the company, valued at approximately $4,251,831.04. The trade was a 7.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

Upbound Group Price Performance

Shares of Upbound Group stock traded up $3.15 during trading hours on Thursday, reaching $23.05. 223,096 shares of the company's stock were exchanged, compared to its average volume of 498,312. The business has a fifty day moving average of $23.21 and a two-hundred day moving average of $28.02. 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 market capitalization of $1.33 billion, a P/E ratio of 10.45 and a beta of 1.90. Upbound Group, Inc. has a 1 year low of $19.69 and a 1 year high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The business's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. As a group, research analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend was Wednesday, April 2nd. Upbound Group's dividend payout ratio is presently 70.59%.

Analyst Upgrades and Downgrades

Separately, Loop Capital reduced their price target on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Two equities research 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, Upbound Group presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.