Brandywine Global Investment Management LLC Invests $4.88 Million in Upbound Group, Inc. (NASDAQ:UPBD)

Brandywine Global Investment Management LLC acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 167,397 shares of the company's stock, valued at approximately $4,883,000. Brandywine Global Investment Management LLC owned about 0.31% of Upbound Group at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UPBD. Wellington Management Group LLP grew its holdings in Upbound Group by 2,864.5% in the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company's stock worth $12,974,000 after buying an additional 391,888 shares in the last quarter. Victory Capital Management Inc. boosted its position in Upbound Group by 171.9% during the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock worth $7,806,000 after acquiring an additional 169,197 shares during the period. Norges Bank bought a new position in shares of Upbound Group in the fourth quarter worth $4,328,000. Raymond James Financial Inc. acquired a new position in shares of Upbound Group during the fourth quarter valued at $3,922,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Upbound Group during the third quarter valued at about $4,035,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Upbound Group Price Performance

Shares of UPBD traded up $0.07 during mid-day trading 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 firm has a 50-day moving average price of $26.60 and a 200 day moving average price of $29.30. Upbound Group, Inc. has a fifty-two week low of $20.45 and a fifty-two week high of $38.72. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.95 and a beta of 1.90.

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Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, research analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Announces Dividend

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

Insider Activity

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

Analyst Ratings Changes

Separately, Loop Capital lowered their target price 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 analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.