Upbound Group, Inc. (NASDAQ:UPBD) Stake Lowered by Verition Fund Management LLC

Verition Fund Management LLC lessened its stake in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 42.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,093 shares of the company's stock after selling 112,369 shares during the quarter. Verition Fund Management LLC owned approximately 0.28% of Upbound Group worth $4,929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Upbound Group by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,984 shares of the company's stock valued at $2,184,000 after purchasing an additional 2,034 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Upbound Group in the 1st quarter valued at about $253,000. Blue Trust Inc. grew its stake in Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock worth $34,000 after acquiring an additional 362 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Upbound Group by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company's stock valued at $691,000 after acquiring an additional 500 shares in the last quarter. Finally, Secure Asset Management LLC increased its holdings in Upbound Group by 4.6% during the 2nd quarter. Secure Asset Management LLC now owns 41,112 shares of the company's stock worth $1,262,000 after purchasing an additional 1,821 shares during the period. Institutional investors own 90.30% of the company's stock.

Upbound Group Stock Performance

Shares of NASDAQ:UPBD traded down $0.35 during midday trading on Tuesday, hitting $34.24. The stock had a trading volume of 237,313 shares, compared to its average volume of 448,507. The company has a market capitalization of $1.87 billion, a PE ratio of 23.61 and a beta of 2.03. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. The stock has a 50 day moving average price of $30.91 and a two-hundred day moving average price of $31.63. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02.

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, beating analysts' consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Upbound Group's quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, equities analysts predict that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group's dividend payout ratio (DPR) is presently 102.07%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UPBD. Loop Capital cut their price target on Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 price objective on the stock. Jefferies Financial Group cut 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, TD Cowen raised shares of Upbound Group to a "strong-buy" rating in a report on Friday. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $39.17.

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

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.