Intech Investment Management LLC Grows Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Intech Investment Management LLC lifted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 288.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,989 shares of the company's stock after acquiring an additional 71,285 shares during the period. Intech Investment Management LLC owned 0.18% of Upbound Group worth $3,071,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in UPBD. Ieq Capital LLC grew its holdings in shares of Upbound Group by 112.7% during the second quarter. Ieq Capital LLC now owns 4,827,021 shares of the company's stock worth $148,190,000 after purchasing an additional 2,557,906 shares during the last quarter. Marshall Wace LLP lifted its stake in Upbound Group by 1,903.6% in the second quarter. Marshall Wace LLP now owns 395,888 shares of the company's stock valued at $12,154,000 after buying an additional 376,129 shares during the last quarter. SG Capital Management LLC acquired a new stake in shares of Upbound Group in the first quarter valued at approximately $12,198,000. Huber Capital Management LLC increased its holdings in shares of Upbound Group by 51.4% in the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company's stock valued at $22,881,000 after acquiring an additional 253,104 shares during the period. Finally, Vanguard Group Inc. raised its position in Upbound Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company's stock valued at $211,453,000 after purchasing an additional 209,422 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company's stock.

Upbound Group Stock Performance

UPBD traded up $0.81 during trading on Friday, reaching $33.80. The company's stock had a trading volume of 359,835 shares, compared to its average volume of 438,522. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 23.31 and a beta of 2.01. The company's fifty day moving average price is $30.44 and its 200-day moving average price is $31.56. Upbound Group, Inc. has a 52-week low of $26.50 and a 52-week high of $38.72. 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 announced its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Upbound Group's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities analysts forecast that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. Upbound Group's dividend payout ratio (DPR) is presently 102.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an "overweight" rating and a $38.00 target price for the company. Jefferies Financial Group decreased their price objective on Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Tuesday, October 1st. Finally, Loop Capital dropped their target price on Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $39.17.

Insider Activity

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. This trade represents a 50.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey J. Brown purchased 1,065 shares of Upbound Group stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the acquisition, the director now directly owns 85,234 shares of the company's stock, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company's stock.

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.