Caxton Associates LP Purchases New Position in Upbound Group, Inc. (NASDAQ:UPBD)

Caxton Associates LP bought a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 31,137 shares of the company's stock, valued at approximately $956,000. Caxton Associates LP owned approximately 0.06% of Upbound Group as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Upbound Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company's stock valued at $211,453,000 after buying an additional 209,422 shares during the period. Ieq Capital LLC increased its holdings in shares of Upbound Group by 112.7% in the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company's stock valued at $148,190,000 after acquiring an additional 2,557,906 shares during the period. LSV Asset Management raised its position in shares of Upbound Group by 43.0% in the 1st quarter. LSV Asset Management now owns 1,693,695 shares of the company's stock worth $59,635,000 after acquiring an additional 509,343 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Upbound Group by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company's stock worth $23,386,000 after purchasing an additional 15,219 shares during the last quarter. Finally, Huber Capital Management LLC boosted its position in Upbound Group by 51.4% during the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company's stock valued at $22,881,000 after purchasing an additional 253,104 shares in the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Stock Up 2.4 %

Shares of UPBD traded up $0.76 during mid-day trading on Friday, hitting $32.43. 610,491 shares of the company traded hands, compared to its average volume of 447,440. The company has a market capitalization of $1.77 billion, a PE ratio of -68.85 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. The business has a 50 day moving average of $32.46 and a 200 day moving average of $32.23. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.01. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. Upbound Group's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 EPS. Equities research analysts anticipate that Upbound Group, Inc. will post 3.81 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.56%. Upbound Group's payout ratio is presently -321.74%.

Insider Buying and Selling at Upbound Group

In related news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares in the company, valued at approximately $498,134. The sale was disclosed in a filing with the SEC, which is available through this link. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now directly owns 14,651 shares of the company's stock, valued at approximately $498,134. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey J. Brown acquired 1,031 shares of Upbound Group stock in a transaction on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the purchase, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on UPBD shares. BTIG Research began coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a "buy" rating and a $45.00 price target for the company. Jefferies Financial Group decreased their target price on shares of Upbound Group from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Wednesday, July 10th. Finally, Loop Capital restated a "hold" rating and issued a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Upbound Group has an average rating of "Moderate Buy" and a consensus price target of $39.40.

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.