Bryce Point Capital LLC Purchases Shares of 67,428 Upbound Group, Inc. (NASDAQ:UPBD)

Bryce Point Capital LLC acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 67,428 shares of the company’s stock, valued at approximately $1,967,000. Upbound Group makes up about 0.6% of Bryce Point Capital LLC’s investment portfolio, making the stock its 9th biggest holding.

A number of other large investors have also modified their holdings of UPBD. R Squared Ltd bought a new stake in Upbound Group in the 4th quarter valued at $25,000. Blue Trust Inc. increased 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 acquiring an additional 705 shares during the period. Quarry LP raised its position in Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after purchasing an additional 2,590 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Upbound Group by 12.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after purchasing an additional 429 shares in the last quarter. Finally, Vestcor Inc bought a new stake in shares of Upbound Group in the 4th quarter valued at approximately $174,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Loop Capital cut their target price on Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Insider Activity at Upbound Group

In related news, CFO Fahmi Karam acquired 11,500 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the transaction, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jeffrey J. Brown purchased 1,146 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the purchase, the director now directly owns 86,380 shares of the company’s stock, valued at $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

Upbound Group Price Performance

Shares of Upbound Group stock opened at $24.20 on Wednesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 10.95 and a beta of 2.01. The firm’s 50-day moving average price is $27.01 and its two-hundred day moving average price is $29.46. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. Upbound Group, Inc. has a 1-year low of $23.35 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. On average, equities analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.45%. Upbound Group’s dividend payout ratio (DPR) is presently 70.59%.

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.