Intech Investment Management LLC Purchases 71,285 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Intech Investment Management LLC boosted its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 288.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 95,989 shares of the company’s stock after buying an additional 71,285 shares during the period. Intech Investment Management LLC’s holdings in Upbound Group were worth $3,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UPBD. Vanguard Group Inc. raised its stake in shares of Upbound Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock valued at $211,453,000 after acquiring an additional 209,422 shares during the last quarter. Ieq Capital LLC raised its position in Upbound Group by 112.7% in the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock valued at $148,190,000 after purchasing an additional 2,557,906 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Upbound Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company’s stock worth $23,386,000 after purchasing an additional 15,219 shares in the last quarter. Huber Capital Management LLC grew its holdings in shares of Upbound Group by 51.4% during the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock worth $22,881,000 after purchasing an additional 253,104 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Upbound Group by 1,903.6% in the second quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock valued at $12,154,000 after buying an additional 376,129 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,065 shares of Upbound Group stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This trade represents a 1.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

UPBD has been the topic of several research reports. Jefferies Financial Group reduced their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Stephens assumed coverage on shares of Upbound Group in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 target price on the stock. Finally, Loop Capital lowered their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

Upbound Group Stock Up 2.5 %

Shares of NASDAQ UPBD opened at $33.80 on Friday. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. The firm’s 50-day moving average is $30.44 and its 200-day moving average is $31.57. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $1.85 billion, a PE ratio of 23.31 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts expect that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is currently 102.07%.

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.