Quantbot Technologies LP Acquires New Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Quantbot Technologies LP purchased a new stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 66,177 shares of the company's stock, valued at approximately $2,117,000. Quantbot Technologies LP owned approximately 0.12% of Upbound Group as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Algert Global LLC raised its holdings in Upbound Group by 82.8% during the third quarter. Algert Global LLC now owns 265,661 shares of the company's stock valued at $8,498,000 after buying an additional 120,345 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Upbound Group by 26.8% during the 3rd quarter. Citigroup Inc. now owns 118,042 shares of the company's stock valued at $3,776,000 after acquiring an additional 24,983 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Upbound Group by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,047 shares of the company's stock valued at $29,240,000 after acquiring an additional 33,167 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Upbound Group by 288.6% in the 3rd quarter. Intech Investment Management LLC now owns 95,989 shares of the company's stock worth $3,071,000 after purchasing an additional 71,285 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in Upbound Group by 1.7% during the third quarter. Segall Bryant & Hamill LLC now owns 102,811 shares of the company's stock worth $3,289,000 after purchasing an additional 1,711 shares during the period. Institutional investors and hedge funds own 90.30% of the company's stock.

Upbound Group Price Performance

NASDAQ UPBD traded down $0.06 during trading on Friday, reaching $34.39. 207,682 shares of the company traded hands, compared to its average volume of 449,969. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 23.72 and a beta of 2.01. The stock's 50 day moving average price is $30.74 and its two-hundred day moving average price is $31.62. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, analysts anticipate that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group's dividend payout ratio (DPR) is presently 102.07%.

Insider Transactions at Upbound Group

In related 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 acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UPBD. Stephens initiated coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They issued an "overweight" rating and a $38.00 price objective for the company. Jefferies Financial Group dropped their target price 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. Finally, Loop Capital lowered their price target on Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Upbound Group currently has an average rating of "Moderate Buy" and a consensus price target of $39.17.

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.