Y Intercept Hong Kong Ltd Boosts Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Y Intercept Hong Kong Ltd lifted its position in Upbound Group, Inc. (NASDAQ:UPBD) by 32.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,862 shares of the company’s stock after acquiring an additional 8,360 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.06% of Upbound Group worth $1,083,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Blue Trust Inc. increased 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 purchasing an additional 362 shares during the period. Covestor Ltd increased its stake in Upbound Group by 268.8% in the 3rd 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 about $42,000. Ashton Thomas Private Wealth LLC purchased a new stake in Upbound Group in the 2nd quarter valued at about $89,000. Finally, Quarry LP grew its stake in Upbound Group by 374.3% in the 3rd quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after acquiring an additional 2,590 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the purchase, the director now owns 85,234 shares in the company, valued at $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. Insiders own 2.70% of the company’s stock.

Upbound Group Stock Performance

UPBD stock opened at $33.71 on Thursday. Upbound Group, Inc. has a one year low of $26.50 and a one year high of $38.72. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 23.25 and a beta of 2.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66. The firm has a 50-day simple moving average of $31.34 and a two-hundred day simple moving average of $31.74.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate 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 net margin of 1.91% and a return on equity of 34.15%. Upbound Group’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts forecast that Upbound Group, Inc. will post 3.8 EPS 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. The ex-dividend date is Wednesday, December 18th. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 4.63%. Upbound Group’s dividend payout ratio (DPR) is 107.59%.

Upbound Group Company 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.