Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 288,425 shares of the company’s stock after selling 7,966 shares during the quarter. Federated Hermes Inc. owned 0.53% of Upbound Group worth $9,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UPBD. CWM LLC acquired a new position in shares of Upbound Group in the 3rd quarter valued at about $45,000. Ritholtz Wealth Management acquired a new position in shares of Upbound Group in the 3rd quarter valued at about $424,000. State of Alaska Department of Revenue purchased a new position in shares of Upbound Group in the 3rd quarter valued at about $841,000. Carolina Wealth Advisors LLC purchased a new position in shares of Upbound Group in the 3rd quarter valued at about $67,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Upbound Group in the 3rd quarter valued at about $376,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity at Upbound Group

In related news, EVP Anthony J. Blasquez sold 12,485 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total value of $414,252.30. Following the transaction, the executive vice president now directly owns 58,967 shares in the company, valued at $1,956,525.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

UPBD has been the subject of several recent analyst reports. TD Cowen initiated coverage on Upbound Group in a research note on Friday, March 8th. They issued an “outperform” rating and a $43.00 price target for the company. KeyCorp boosted their price objective on Upbound Group from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, Stephens upgraded Upbound Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $38.17.

Upbound Group Stock Up 1.4 %

Shares of Upbound Group stock opened at $31.49 on Wednesday. The stock’s 50 day simple moving average is $33.07 and its 200-day simple moving average is $31.79. Upbound Group, Inc. has a 1-year low of $23.05 and a 1-year high of $36.17. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.65 and a current ratio of 3.12.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, February 22nd. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $994.27 million. Upbound Group had a positive return on equity of 32.65% and a negative net margin of 0.13%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. On average, equities analysts anticipate that Upbound Group, Inc. will post 3.76 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Wednesday, April 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Tuesday, April 2nd. Upbound Group’s dividend payout ratio is presently -1,233.23%.

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.