Secure Asset Management LLC Buys 1,821 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Secure Asset Management LLC raised its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 4.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 41,112 shares of the company’s stock after purchasing an additional 1,821 shares during the quarter. Secure Asset Management LLC’s holdings in Upbound Group were worth $1,262,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UPBD. Louisiana State Employees Retirement System raised its holdings in Upbound Group by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after purchasing an additional 500 shares during the period. Blue Trust Inc. increased its position in shares of 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 buying an additional 362 shares in the last quarter. SG Capital Management LLC acquired a new position in Upbound Group in the first quarter valued at about $12,198,000. Cetera Advisors LLC bought a new stake in shares of Upbound Group in the first quarter worth about $253,000. Finally, Interval Partners LP increased its holdings in shares of Upbound Group by 155.1% in the first quarter. Interval Partners LP now owns 96,131 shares of the company’s stock worth $3,385,000 after acquiring an additional 58,442 shares in the last quarter. 90.30% of the stock is owned by institutional investors.

Insider Transactions at Upbound Group

In related news, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $32.48, for a total value of $487,200.00. Following the sale, the executive vice president now owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Ralph T. Montrone sold 15,000 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total value of $487,200.00. Following the completion of the transaction, the executive vice president now directly owns 40,074 shares of the company’s stock, valued at $1,301,603.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Brown bought 1,031 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were purchased at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the acquisition, the director now owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UPBD. BTIG Research began coverage on Upbound Group in a research report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group reduced their price target 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 four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

Upbound Group Stock Up 6.2 %

Shares of NASDAQ:UPBD traded up $1.96 during mid-day trading on Friday, reaching $33.41. 434,315 shares of the stock were exchanged, compared to its average volume of 413,487. The company has a market cap of $1.83 billion, a P/E ratio of -72.30 and a beta of 2.02. The stock’s 50 day simple moving average is $32.15 and its 200-day simple moving average is $32.50. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. Upbound Group, Inc. has a one year low of $25.00 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. The company had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. As a group, equities research analysts predict that Upbound Group, Inc. will post 3.81 EPS for the current year.

Upbound Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, June 18th. This represents a $1.48 annualized dividend and a yield of 4.43%. Upbound Group’s dividend payout ratio (DPR) is presently -321.74%.

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.