179,355 Shares in Upbound Group, Inc. (NASDAQ:UPBD) Bought by Bank of Montreal Can

Bank of Montreal Can purchased a new stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 179,355 shares of the company's stock, valued at approximately $5,607,000. Bank of Montreal Can owned 0.33% of Upbound Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UPBD. CoreCap Advisors LLC acquired a new stake in shares of Upbound Group during the second quarter worth $606,000. Interval Partners LP boosted its stake in Upbound Group by 155.1% during the first quarter. Interval Partners LP now owns 96,131 shares of the company's stock worth $3,385,000 after acquiring an additional 58,442 shares in the last quarter. Napatree Capital LLC bought a new position in Upbound Group during the fourth quarter worth $820,000. ClariVest Asset Management LLC boosted its stake in Upbound Group by 36,691.7% during the first quarter. ClariVest Asset Management LLC now owns 30,905 shares of the company's stock worth $1,088,000 after acquiring an additional 30,821 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in Upbound Group by 78.4% during the first quarter. Edgestream Partners L.P. now owns 137,031 shares of the company's stock worth $4,825,000 after acquiring an additional 60,203 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Loop Capital reissued a "hold" rating and set a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. BTIG Research began coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a "buy" rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.00.

Upbound Group Stock Down 4.8 %

Shares of UPBD stock traded down $1.42 on Wednesday, hitting $28.36. The stock had a trading volume of 659,469 shares, compared to its average volume of 453,200. The business has a 50 day moving average of $32.36 and a 200 day moving average of $32.18. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -64.74 and a beta of 2.00. 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 12-month low of $25.00 and a 12-month high of $38.72.

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

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 5.22%. Upbound Group's dividend payout ratio (DPR) is presently -321.74%.

Insider Buying and Selling

In other news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Ralph T. Montrone sold 15,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president now directly owns 40,074 shares in the company, valued at $1,301,603.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the firm's stock in a transaction that occurred on 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 owns 14,651 shares of the company's stock, valued at $498,134. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by corporate insiders.

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.