SG Capital Management LLC Buys Shares of 346,439 Upbound Group, Inc. (NASDAQ:UPBD)

SG Capital Management LLC bought a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 346,439 shares of the company’s stock, valued at approximately $12,198,000. Upbound Group comprises 4.0% of SG Capital Management LLC’s holdings, making the stock its 6th largest holding. SG Capital Management LLC owned about 0.63% of Upbound Group as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in UPBD. Headlands Technologies LLC purchased a new stake in shares of Upbound Group in the 1st quarter worth $29,000. Allspring Global Investments Holdings LLC increased its stake in shares of Upbound Group by 232.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Upbound Group in the 4th quarter worth $68,000. TFO Wealth Partners LLC increased its stake in shares of Upbound Group by 44,716.7% in the 4th quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock worth $91,000 after purchasing an additional 2,683 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Upbound Group in the 1st quarter worth $112,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Stock Performance

Shares of UPBD traded down $0.98 during midday trading on Friday, hitting $34.19. 564,490 shares of the company traded hands, compared to its average volume of 590,417. The firm has a 50 day moving average of $32.29 and a 200-day moving average of $32.67. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $38.72. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.21.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The business’s revenue was up 10.0% on a year-over-year basis. As a group, sell-side analysts forecast that Upbound Group, Inc. will post 3.74 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Tuesday, June 18th. Upbound Group’s payout ratio is -321.74%.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,031 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was purchased at an average price of $29.82 per share, with a total value of $30,744.42. Following the acquisition, the director now owns 84,169 shares in the company, valued at $2,509,919.58. 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 owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. BTIG Research assumed coverage on Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group dropped their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Upbound Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.17.

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.