Dynamic Technology Lab Private Ltd Sells 7,909 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Dynamic Technology Lab Private Ltd trimmed its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 25.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,133 shares of the company’s stock after selling 7,909 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Upbound Group were worth $740,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in UPBD. Ieq Capital LLC grew its holdings in Upbound Group by 112.7% during the 2nd quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock valued at $148,190,000 after purchasing an additional 2,557,906 shares during the last quarter. Marshall Wace LLP grew its stake in Upbound Group by 1,903.6% in the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after acquiring an additional 376,129 shares in the last quarter. SG Capital Management LLC bought a new position in Upbound Group in the 1st quarter worth about $12,198,000. Huber Capital Management LLC grew its stake in Upbound Group by 51.4% in the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock worth $22,881,000 after acquiring an additional 253,104 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Upbound Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after acquiring an additional 209,422 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value 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. The trade was a 1.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by corporate insiders.

Upbound Group Price Performance

Shares of UPBD opened at $34.45 on Friday. The company has a 50 day moving average price of $30.74 and a 200-day moving average price of $31.62. Upbound Group, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $38.72. The stock has a market capitalization of $1.88 billion, a PE ratio of 23.76 and a beta of 2.01. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The company’s revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 4.30%. Upbound Group’s payout ratio is 102.07%.

Analyst Ratings Changes

UPBD has been the topic of a number of research analyst reports. Stephens initiated coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Loop Capital dropped 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. Finally, Jefferies Financial Group dropped 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 note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

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.