Point72 Asset Management L.P. Invests $972,000 in Upbound Group, Inc. (NASDAQ:UPBD)

Point72 Asset Management L.P. bought a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,373 shares of the company's stock, valued at approximately $972,000. Point72 Asset Management L.P. owned about 0.06% of Upbound Group as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its holdings in Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock valued at $34,000 after acquiring an additional 362 shares during the period. Covestor Ltd increased its stake in shares of Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company's stock worth $37,000 after buying an additional 828 shares during the period. Meeder Asset Management Inc. bought a new stake in Upbound Group during the 2nd quarter valued at $42,000. Ashton Thomas Private Wealth LLC bought a new stake in Upbound Group in the 2nd quarter worth $89,000. Finally, SG Americas Securities LLC purchased a new position in shares of Upbound Group in the third quarter valued at about $142,000. Hedge funds and other institutional investors own 90.30% of the company's stock.

Upbound Group Stock Performance

UPBD traded up $0.30 during midday trading on Wednesday, reaching $34.01. The company had a trading volume of 124,196 shares, compared to its average volume of 444,096. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The company has a market cap of $1.86 billion, a P/E ratio of 23.25 and a beta of 2.03. The business has a 50-day moving average of $31.23 and a two-hundred day moving average of $31.73.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The firm's revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. As a group, equities research analysts predict that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Wednesday, December 18th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Wednesday, December 18th. This is a positive change from Upbound Group's previous quarterly dividend of $0.37. Upbound Group's dividend payout ratio is presently 107.59%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Stephens started coverage on Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 price target on the stock. Loop Capital dropped their price target on Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research note on Friday, November 1st. TD Cowen raised shares of Upbound Group to a "strong-buy" rating in a research report on Friday, November 29th. Finally, Jefferies Financial Group dropped their target price 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, October 1st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $39.17.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown acquired 1,065 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average price of $29.25 per share, with a total value 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 trade represents a 1.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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.