Cubist Systematic Strategies LLC Has $2.17 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

Cubist Systematic Strategies LLC grew its position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 4,547.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,681 shares of the company's stock after buying an additional 69,160 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.13% of Upbound Group worth $2,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new position in shares of Upbound Group in the first quarter worth about $29,000. Blue Trust Inc. lifted its position in shares of Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock worth $34,000 after purchasing an additional 362 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Upbound Group in the second quarter worth approximately $42,000. Allspring Global Investments Holdings LLC lifted its position in shares of Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company's stock worth $58,000 after purchasing an additional 1,146 shares in the last quarter. Finally, TFO Wealth Partners LLC lifted its position in shares of Upbound Group by 44,716.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company's stock worth $91,000 after purchasing an additional 2,683 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UPBD has been the subject of a number of research analyst reports. Loop Capital reissued a "hold" rating and issued a $36.00 price target on shares of Upbound Group in a research report on Friday, September 13th. Jefferies Financial Group reduced their price target on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, BTIG Research initiated coverage on shares of Upbound Group in a research report on Friday, June 7th. They issued a "buy" rating and a $45.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Upbound Group presently has an average rating of "Moderate Buy" and an average target price of $40.00.

Upbound Group Stock Down 6.9 %

UPBD traded down $2.21 during midday trading on Tuesday, hitting $29.78. 865,204 shares of the company's stock traded hands, compared to its average volume of 452,108. The company has a market cap of $1.63 billion, a PE ratio of -64.54 and a beta of 2.00. The stock's fifty day simple moving average is $32.43 and its 200-day simple moving average is $32.20. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. Upbound Group, Inc. has a one year low of $25.00 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.01. The firm 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%. The company's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. As a group, equities analysts anticipate that Upbound Group, Inc. will post 3.81 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be issued 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 4.97%. Upbound Group's dividend payout ratio (DPR) is presently -321.74%.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown purchased 1,031 shares of the stock in a transaction on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the acquisition, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Jeffrey J. Brown acquired 1,031 shares of the stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the purchase, the director now owns 84,169 shares in the company, valued at approximately $2,509,919.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ralph T. Montrone sold 15,000 shares of the firm's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the completion of the sale, the executive vice president now owns 40,074 shares in the company, valued at approximately $1,301,603.52. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company's stock.

About Upbound Group

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.