Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 21,005 Upbound Group, Inc. (NASDAQ:UPBD)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 21,005 shares of the company's stock, valued at approximately $613,000.

A number of other large investors have also added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in shares of Upbound Group by 137.5% in the 4th quarter. AlphaQuest LLC now owns 15,871 shares of the company's stock worth $463,000 after buying an additional 9,189 shares during the last quarter. Kendall Capital Management grew its stake in shares of Upbound Group by 44.3% during the 4th quarter. Kendall Capital Management now owns 80,950 shares of the company's stock valued at $2,361,000 after purchasing an additional 24,870 shares during the period. Amundi increased its position in shares of Upbound Group by 29.1% during the 4th quarter. Amundi now owns 56,159 shares of the company's stock valued at $1,677,000 after purchasing an additional 12,657 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Upbound Group by 12.8% in the fourth 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, Edgestream Partners L.P. grew its position in Upbound Group by 93.5% during the fourth quarter. Edgestream Partners L.P. now owns 63,841 shares of the company's stock valued at $1,862,000 after buying an additional 30,850 shares during the period. Institutional investors own 90.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UPBD. Loop Capital dropped 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. TD Cowen raised Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $37.00.

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Insider Buying and Selling at Upbound Group

In other Upbound Group news, CFO Fahmi Karam purchased 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price 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. The trade was a 7.51 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey J. Brown acquired 1,146 shares of Upbound Group stock in a transaction on Tuesday, January 7th. The shares were bought at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the purchase, the director now directly owns 86,380 shares of the company's stock, valued at $2,505,883.80. The trade was 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.

Upbound Group Price Performance

Shares of NASDAQ UPBD traded up $0.01 during mid-day trading on Wednesday, reaching $24.81. The company's stock had a trading volume of 340,921 shares, compared to its average volume of 464,028. The stock has a fifty day moving average of $27.54 and a two-hundred day moving average of $29.67. The firm has a market capitalization of $1.42 billion, a PE ratio of 11.23 and a beta of 2.01. Upbound Group, Inc. has a 52 week low of $23.35 and a 52 week 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.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $1.05 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 the consensus estimate of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. As a group, sell-side analysts anticipate that Upbound Group, Inc. will post 4.28 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Wednesday, April 2nd will be given a $0.39 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.29%. Upbound Group's dividend payout ratio is currently 70.59%.

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.