Interval Partners LP Purchases 11,781 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Interval Partners LP increased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,842 shares of the company’s stock after acquiring an additional 11,781 shares during the quarter. Interval Partners LP owned about 0.12% of Upbound Group worth $1,921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd bought a new position in Upbound Group during the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its stake in Upbound Group by 45.0% in the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock valued at $73,000 after buying an additional 705 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after buying an additional 429 shares in the last quarter. Vestcor Inc bought a new position in Upbound Group in the fourth quarter valued at approximately $174,000. Finally, Freestone Grove Partners LP bought a new position in Upbound Group in the fourth quarter valued at approximately $221,000. Institutional investors own 90.30% of the company’s stock.

Analyst Ratings Changes

UPBD has been the topic of a number of research reports. Raymond James reaffirmed an “outperform” rating and issued a $35.00 price target (down previously from $40.00) on shares of Upbound Group in a research note on Friday, May 2nd. Loop Capital cut their price target on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown bought 1,694 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average cost of $19.89 per share, for a total transaction of $33,693.66. Following the completion of the acquisition, the director now owns 88,074 shares in the company, valued at approximately $1,751,791.86. This represents a 1.96% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Fahmi Karam bought 11,500 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company’s stock, valued at $4,251,831.04. The trade was a 7.51% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 34,924 shares of company stock worth $846,711. Insiders own 2.70% of the company’s stock.

Upbound Group Price Performance

NASDAQ UPBD opened at $23.69 on Monday. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08. Upbound Group, Inc. has a 12-month low of $19.69 and a 12-month high of $38.72. The company has a market capitalization of $1.37 billion, a PE ratio of 10.72 and a beta of 1.77. The firm’s 50 day moving average is $22.88 and its 200-day moving average is $27.74.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the company earned $0.79 earnings per share. The firm’s revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Upbound Group, Inc. will post 4.28 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, April 22nd. Investors of record on Wednesday, April 2nd were issued a dividend of $0.39 per share. The ex-dividend date was Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 6.59%. Upbound Group’s payout ratio is 73.24%.

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.