GSA Capital Partners LLP Sells 20,079 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

GSA Capital Partners LLP lowered its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 68.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,413 shares of the company's stock after selling 20,079 shares during the quarter. GSA Capital Partners LLP's holdings in Upbound Group were worth $301,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in 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 buying an additional 362 shares in the last quarter. Covestor Ltd lifted its stake in shares of Upbound Group by 268.8% in the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company's stock valued at $37,000 after purchasing an additional 828 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Upbound Group during the second quarter valued at approximately $42,000. Ashton Thomas Private Wealth LLC purchased a new stake in Upbound Group in the second quarter worth $89,000. Finally, SG Americas Securities LLC bought a new position in Upbound Group in the first quarter worth $112,000. 90.30% of the stock is currently owned by institutional investors.

Upbound Group Stock Up 2.5 %

Shares of NASDAQ UPBD traded up $0.81 during midday trading on Friday, hitting $33.80. The stock had a trading volume of 359,835 shares, compared to its average volume of 438,522. The business's 50 day moving average is $30.44 and its 200-day moving average is $31.57. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week 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 $1.85 billion, a P/E ratio of 23.31 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.79 EPS. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts predict that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 4.38%. Upbound Group's dividend payout ratio (DPR) is presently 102.07%.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were bought at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. This represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on UPBD shares. Stephens assumed coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 target price on the stock. 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, October 1st. Finally, Loop Capital decreased their target price on shares of Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Upbound Group presently has a consensus rating of "Moderate Buy" and an average target price of $39.17.

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.