Bryce Point Capital LLC Takes $1.97 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

Bryce Point Capital LLC bought a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 67,428 shares of the company's stock, valued at approximately $1,967,000. Upbound Group comprises about 0.6% of Bryce Point Capital LLC's portfolio, making the stock its 9th biggest holding. Bryce Point Capital LLC owned about 0.12% of Upbound Group as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake 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 purchasing an additional 391,888 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Upbound Group by 171.9% during the fourth quarter. Victory Capital Management Inc. now owns 267,618 shares of the company's stock worth $7,806,000 after purchasing an additional 169,197 shares during the period. Brandywine Global Investment Management LLC acquired a new stake in shares of Upbound Group in the fourth quarter valued at approximately $4,883,000. Norges Bank bought a new stake in shares of Upbound Group in the fourth quarter valued at approximately $4,328,000. Finally, Raymond James Financial Inc. acquired a new stake in Upbound Group during the fourth quarter worth approximately $3,922,000. Institutional investors own 90.30% of the company's stock.

Upbound Group Price Performance

UPBD traded down $0.59 during trading on Monday, hitting $21.40. 241,700 shares of the stock traded hands, compared to its average volume of 486,075. The business has a 50 day moving average price of $26.60 and a 200 day moving average price of $29.29. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 9.70 and a beta of 1.90. Upbound Group, Inc. has a twelve month low of $20.45 and a twelve month high of $38.72. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86.

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

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.29%. Upbound Group's payout ratio is currently 70.59%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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