Palouse Capital Management Inc. Reduces Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Palouse Capital Management Inc. cut its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 15.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,031 shares of the company’s stock after selling 745 shares during the period. Palouse Capital Management Inc.’s holdings in Upbound Group were worth $118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. R Squared Ltd bought a new stake in Upbound Group during the fourth quarter valued at about $25,000. Covestor Ltd increased its stake in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after acquiring an additional 828 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Upbound Group by 40.1% during the third quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock valued at $48,000 after buying an additional 448 shares during the period. Quarry LP boosted its position in shares of Upbound Group by 374.3% during the third quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after buying an additional 2,590 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Upbound Group during the third quarter valued at approximately $142,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the transaction, the director now directly owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.

Upbound Group Trading Down 1.1 %

NASDAQ UPBD opened at $29.45 on Friday. 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 market cap of $1.61 billion, a PE ratio of 20.31 and a beta of 2.05. Upbound Group, Inc. has a one year low of $26.50 and a one year high of $38.72. The firm’s fifty day moving average is $29.99 and its two-hundred day moving average is $30.98.

Upbound Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.56 dividend on an annualized basis and a yield of 5.30%. This is an increase from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s payout ratio is currently 107.59%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UPBD. 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. TD Cowen raised Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Stephens started coverage on Upbound Group in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.