Arrowstreet Capital Limited Partnership Reduces Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Arrowstreet Capital Limited Partnership lowered its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 811,604 shares of the company's stock after selling 34,478 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.48% of Upbound Group worth $23,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd bought a new position in Upbound Group during the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its position in Upbound Group by 45.0% during the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock valued at $73,000 after purchasing an additional 705 shares during the last quarter. Quarry LP grew its stake in shares of Upbound Group by 374.3% in the 3rd quarter. Quarry LP now owns 3,282 shares of the company's stock worth $105,000 after buying an additional 2,590 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Upbound Group by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after buying an additional 429 shares during the last quarter. Finally, Vestcor Inc bought a new position in shares of Upbound Group in the 4th quarter valued at about $174,000. Institutional investors own 90.30% of the company's stock.

Insider Transactions at Upbound Group

In other news, CFO Fahmi Karam acquired 11,500 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company's stock, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown purchased 1,146 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the acquisition, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

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Upbound Group Stock Up 0.3 %

Shares of NASDAQ:UPBD traded up $0.07 during trading hours on Friday, hitting $21.98. The company's stock had a trading volume of 695,743 shares, compared to its average volume of 487,018. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.95 and a beta of 1.90. The firm's fifty day moving average price is $26.60 and its 200 day moving average price is $29.30. Upbound Group, Inc. has a 52 week low of $20.45 and a 52 week high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. As a group, research analysts expect that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 7.10%. The ex-dividend date is Wednesday, April 2nd. Upbound Group's dividend payout ratio is presently 70.59%.

Analyst Ratings Changes

Separately, Loop Capital reduced their price target on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.