Cornercap Investment Counsel Inc. Sells 16,072 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Cornercap Investment Counsel Inc. reduced its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 51.4% during the 3rd quarter, Holdings Channel reports. The fund owned 15,210 shares of the company’s stock after selling 16,072 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Upbound Group were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Upbound Group in the 1st quarter valued at about $29,000. Blue Trust Inc. raised its holdings in Upbound Group by 47.9% in 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 raised its holdings in 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 acquiring an additional 828 shares during the period. Meeder Asset Management Inc. bought a new position in Upbound Group in the 2nd quarter valued at about $42,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Upbound Group by 232.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after acquiring an additional 1,146 shares during the period. 90.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 1,065 shares of the business’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 transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred 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 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 currently owned by company insiders.

Upbound Group Stock Performance

Shares of NASDAQ:UPBD opened at $31.78 on Friday. 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 firm has a market cap of $1.74 billion, a PE ratio of 21.92 and a beta of 2.01. The company’s 50 day moving average price is $30.18 and its two-hundred day moving average price is $31.51. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings results 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. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $0.79 EPS. Equities research analysts predict that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently declared 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 was Tuesday, October 1st. This represents a $1.48 annualized dividend and a dividend yield of 4.66%. Upbound Group’s dividend payout ratio is 102.07%.

Analyst Ratings Changes

UPBD has been the topic of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Loop Capital decreased 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 report on Friday, November 1st. Finally, Stephens initiated coverage on shares of Upbound Group in a research report on Wednesday. They set an “overweight” rating and a $38.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.