Schonfeld Strategic Advisors LLC Sells 101,030 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Schonfeld Strategic Advisors LLC decreased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 59.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,491 shares of the company's stock after selling 101,030 shares during the period. Schonfeld Strategic Advisors LLC owned 0.13% of Upbound Group worth $1,998,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd bought a new position in Upbound Group during the fourth quarter worth $25,000. Blue Trust Inc. increased 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 valued at $73,000 after purchasing an additional 705 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Upbound Group by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock valued at $110,000 after purchasing an additional 429 shares during the period. Vestcor Inc acquired a new stake in Upbound Group in the 4th quarter valued at $174,000. Finally, Virtu Financial LLC bought a new stake in Upbound Group in the third quarter valued at $229,000. 90.30% of the stock is currently owned by institutional investors.

Upbound Group Stock Performance

Upbound Group stock opened at $24.17 on Tuesday. Upbound Group, Inc. has a 12-month low of $19.69 and a 12-month high of $38.72. The stock has a 50-day simple moving average of $23.03 and a 200 day simple moving average of $27.87. 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 stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.94 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.06. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. Upbound Group's quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 earnings per share. On average, research analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd were given 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 dividend yield of 6.45%. Upbound Group's payout ratio is currently 70.59%.

Insider Activity

In related news, Director Jeffrey J. Brown purchased 1,694 shares of the business's stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average price of $19.89 per share, with a total value of $33,693.66. Following the purchase, the director now directly owns 88,074 shares in the company, valued at $1,751,791.86. This trade represents a 1.96 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Fahmi Karam purchased 11,500 shares of Upbound Group stock in a transaction dated Monday, March 10th. The stock was bought at an average price 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 $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. 2.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

UPBD has been the topic of several recent analyst reports. Raymond James restated an "outperform" rating and issued a $35.00 target price (down previously from $40.00) on shares of Upbound Group in a research note on Friday. Loop Capital reduced their price target on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.60.

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.

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