Walleye Capital LLC Sells 112,943 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Walleye Capital LLC decreased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 92.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,926 shares of the company's stock after selling 112,943 shares during the period. Walleye Capital LLC's holdings in Upbound Group were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Capital Management LLC bought a new position in Upbound Group during the fourth quarter valued at about $10,214,000. Victory Capital Management Inc. lifted its stake in Upbound Group by 171.9% during the fourth quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock valued at $7,806,000 after purchasing an additional 169,197 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new position in Upbound Group in the fourth quarter worth approximately $4,883,000. Wellington Management Group LLP lifted its position in shares of Upbound Group by 37.9% during the 4th quarter. Wellington Management Group LLP now owns 559,120 shares of the company's stock valued at $16,310,000 after acquiring an additional 153,551 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Upbound Group during the 4th quarter worth $4,328,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

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 report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Upbound Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.

Upbound Group Stock Performance

Upbound Group stock traded up $3.26 during trading hours on Thursday, reaching $23.16. 256,354 shares of the company were exchanged, compared to its average volume of 498,460. 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 moving average of $23.21 and a 200 day moving average of $28.02. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 10.41 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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 business'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 EPS. As a group, research analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd were issued a $0.39 dividend. The ex-dividend date was Wednesday, April 2nd. This represents a $1.56 annualized dividend and a yield of 6.74%. Upbound Group's dividend payout ratio (DPR) is 70.59%.

Insider Activity at Upbound Group

In related news, 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 acquisition, the chief financial officer now directly owns 164,672 shares of the company's stock, valued at $4,251,831.04. This represents a 7.51 % 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 the SEC website. Also, Director Jeffrey J. Brown acquired 1,694 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The shares were bought at an average price of $19.89 per share, for a total transaction of $33,693.66. Following the completion of the acquisition, the director now owns 88,074 shares of the company's stock, valued at $1,751,791.86. This trade represents a 1.96 % 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 corporate insiders.

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.