LSV Asset Management Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

LSV Asset Management grew its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,184,352 shares of the company’s stock after acquiring an additional 101,620 shares during the quarter. LSV Asset Management’s holdings in Upbound Group were worth $40,232,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Qube Research & Technologies Ltd acquired a new stake in Upbound Group during the third quarter worth approximately $1,760,000. Swiss National Bank acquired a new stake in shares of Upbound Group during the third quarter worth $3,078,000. Invesco Ltd. purchased a new stake in shares of Upbound Group in the third quarter valued at $14,154,000. Vanguard Group Inc. acquired a new position in Upbound Group in the third quarter valued at $170,877,000. Finally, New York State Common Retirement Fund purchased a new position in Upbound Group during the third quarter worth about $705,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Stock Performance

UPBD stock opened at $30.77 on Monday. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.49 and a quick ratio of 0.72. The stock has a 50-day moving average price of $32.84 and a two-hundred day moving average price of $31.92. Upbound Group, Inc. has a 12-month low of $25.00 and a 12-month high of $36.17.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts expect that Upbound Group, Inc. will post 3.76 EPS for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Wednesday, April 3rd were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Tuesday, April 2nd. Upbound Group’s payout ratio is currently -321.74%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp lifted their price target on Upbound Group from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. TD Cowen started coverage on shares of Upbound Group in a report on Friday, March 8th. They issued an “outperform” rating and a $43.00 target price for the company. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $38.17.

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.