Intech Investment Management LLC Purchases 71,285 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Intech Investment Management LLC boosted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 288.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 95,989 shares of the company’s stock after acquiring an additional 71,285 shares during the quarter. Intech Investment Management LLC owned approximately 0.18% of Upbound Group worth $3,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 362 shares in the last quarter. Covestor Ltd raised its holdings in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after buying an additional 828 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Upbound Group in the second quarter worth about $42,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Upbound Group during the 2nd quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new position in shares of Upbound Group during the 1st quarter valued at about $112,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,065 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were purchased at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction 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 approximately $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 insiders.

Upbound Group Trading Up 2.5 %

Shares of Upbound Group stock opened at $33.80 on Friday. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72. The company’s fifty day simple moving average is $30.44 and its 200-day simple moving average is $31.57. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 23.31 and a beta of 2.01. 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) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Dividend Announcement

The company 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. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.38%. Upbound Group’s dividend payout ratio is currently 102.07%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on UPBD shares. Stephens started coverage on Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price for the company. Jefferies Financial Group decreased their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 1st. Finally, Loop Capital lowered their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Upbound Group has a consensus rating of “Moderate Buy” and a consensus 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.