Jane Street Group LLC Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Jane Street Group LLC increased its position in Upbound Group, Inc. (NASDAQ:UPBD) by 23.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,123 shares of the company’s stock after purchasing an additional 15,473 shares during the quarter. Jane Street Group LLC’s holdings in Upbound Group were worth $2,563,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System raised its holdings in Upbound Group by 0.5% in the third quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock worth $2,578,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. grew its position in shares of Upbound Group by 40.1% in the 3rd quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock worth $48,000 after buying an additional 448 shares during the period. Amalgamated Bank increased its stake in shares of Upbound Group by 3.5% in the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock worth $464,000 after acquiring an additional 496 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Upbound Group by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after acquiring an additional 500 shares in the last quarter. Finally, Covestor Ltd lifted its position in Upbound Group by 268.8% during the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after acquiring an additional 828 shares during the period. 90.30% of the stock is currently owned by institutional investors.

Upbound Group Price Performance

Shares of UPBD opened at $30.15 on Monday. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72. The company has a market capitalization of $1.65 billion, a P/E ratio of 20.79 and a beta of 2.03. The firm has a 50 day moving average of $31.63 and a 200 day moving average of $31.71. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.89 by $0.06. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Upbound Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. As a group, equities research analysts anticipate that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.56 annualized dividend and a yield of 5.17%. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s dividend payout ratio (DPR) is currently 107.59%.

Wall Street Analyst Weigh In

UPBD has been the topic of a number of recent research reports. Stephens assumed coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective on the stock. Loop Capital cut their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group lowered their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Finally, TD Cowen raised Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Upbound Group currently has a consensus rating of “Moderate Buy” and an average price target of $39.17.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown bought 1,065 shares of the stock in a transaction on Tuesday, October 22nd. The shares were bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 1.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

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.