Norges Bank Takes $4.33 Million Position in Upbound Group, Inc. (NASDAQ:UPBD)

Norges Bank acquired a new position in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 148,384 shares of the company's stock, valued at approximately $4,328,000. Norges Bank owned approximately 0.27% of Upbound Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new position in Upbound Group during the 3rd quarter worth about $972,000. State Street Corp raised its stake in shares of Upbound Group by 2.2% in the third quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after acquiring an additional 43,814 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Upbound Group by 2,864.5% during the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company's stock worth $12,974,000 after purchasing an additional 391,888 shares in the last quarter. Jane Street Group LLC grew its stake in shares of Upbound Group by 23.9% during the third quarter. Jane Street Group LLC now owns 80,123 shares of the company's stock valued at $2,563,000 after purchasing an additional 15,473 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Upbound Group by 32.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 33,862 shares of the company's stock valued at $1,083,000 after purchasing an additional 8,360 shares in the last quarter. Institutional investors own 90.30% of the company's stock.

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Analyst Upgrades and Downgrades

Separately, Loop Capital decreased their price objective on Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $37.00.

Insiders Place Their Bets

In other news, CFO Fahmi Karam bought 11,500 shares of the business's stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.70% of the company's stock.

Upbound Group Trading Down 1.1 %

Shares of NASDAQ:UPBD traded down $0.23 during trading on Tuesday, hitting $20.89. 47,864 shares of the company's stock were exchanged, compared to its average volume of 492,249. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The firm has a market cap of $1.20 billion, a P/E ratio of 9.47 and a beta of 1.90. The firm has a 50-day moving average price of $25.31 and a two-hundred day moving average price of $28.76. Upbound Group, Inc. has a 1-year low of $20.08 and a 1-year high of $38.72.

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 analysts' consensus estimates of $1.03 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. Equities analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

Upbound Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Wednesday, April 2nd. Upbound Group's payout ratio is 70.59%.

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.