Public Sector Pension Investment Board Buys 4,700 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Public Sector Pension Investment Board raised its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,292 shares of the company’s stock after purchasing an additional 4,700 shares during the period. Public Sector Pension Investment Board owned 0.19% of Upbound Group worth $3,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares during the period. Covestor Ltd lifted its stake in shares of Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after buying an additional 828 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Upbound Group during the second quarter valued at about $42,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Upbound Group during the second quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Upbound Group in the 3rd quarter worth about $142,000. Institutional investors own 90.30% of the company’s stock.

Upbound Group Stock Down 1.0 %

UPBD stock opened at $34.24 on Wednesday. The stock has a market cap of $1.87 billion, a P/E ratio of 23.61 and a beta of 2.03. 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 stock’s fifty day simple moving average is $30.98 and its two-hundred day simple moving average is $31.64. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.79 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Analysts expect that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.32%. Upbound Group’s payout ratio is 102.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UPBD shares. Stephens began coverage on Upbound Group in a research note on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target for the company. Loop Capital decreased their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. TD Cowen raised Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group cut their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 1.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.70% of the stock is 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.