Upbound Group, Inc. (NASDAQ:UPBD) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 35.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,054 shares of the company’s stock after selling 24,926 shares during the quarter. Hsbc Holdings PLC owned approximately 0.08% of Upbound Group worth $1,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC increased its stake in shares of Upbound Group by 42.5% during the 3rd quarter. Barclays PLC now owns 316,225 shares of the company’s stock valued at $10,116,000 after acquiring an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Upbound Group by 130.3% in the third quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock valued at $5,835,000 after purchasing an additional 103,212 shares during the period. Raymond James Financial Inc. acquired a new position in Upbound Group during the fourth quarter worth approximately $3,922,000. Franklin Resources Inc. raised its stake in Upbound Group by 29.0% during the third quarter. Franklin Resources Inc. now owns 32,791 shares of the company’s stock worth $963,000 after purchasing an additional 7,372 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Upbound Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 6,781,075 shares of the company’s stock valued at $197,804,000 after purchasing an additional 113,212 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UPBD has been the topic of several research reports. Raymond James reaffirmed an “outperform” rating and issued a $35.00 target price (down from $40.00) on shares of Upbound Group in a research report on Friday. Loop Capital cut their price objective on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Upbound Group has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $24.16 on Friday. The firm’s fifty day simple moving average is $23.09 and its 200 day simple moving average is $27.94. 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 twelve month low of $19.69 and a twelve month high of $38.72. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.93 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, May 1st. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The company’s revenue was up 7.3% compared to the same quarter last year. As a group, equities research analysts expect that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.46%. The ex-dividend date of this dividend was Wednesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is 70.59%.

Insider Activity

In other Upbound Group news, CFO Fahmi Karam acquired 11,500 shares of the company’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the acquisition, the chief financial officer now directly owns 164,672 shares of the company’s stock, valued at $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Brown purchased 1,694 shares of the business’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was bought 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 directly owns 88,074 shares of the company’s stock, valued at $1,751,791.86. This represents a 1.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

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.