WBI Investments Inc. purchased a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,718 shares of the company’s stock, valued at approximately $316,000.
A number of other large investors have also added to or reduced their stakes in UPBD. Wolff Wiese Magana LLC bought a new position in shares of Upbound Group during the third quarter valued at about $29,000. Clearstead Advisors LLC bought a new position in shares of Upbound Group during the third quarter valued at about $38,000. CWM LLC bought a new position in shares of Upbound Group during the third quarter valued at about $45,000. Harvest Fund Management Co. Ltd bought a new position in shares of Upbound Group during the third quarter valued at about $52,000. Finally, Carolina Wealth Advisors LLC bought a new position in shares of Upbound Group during the third quarter valued at about $67,000. Hedge funds and other institutional investors own 86.72% of the company’s stock.
In other Upbound Group news, Director Jeffrey J. Brown bought 912 shares of the stock in a transaction dated Tuesday, January 9th. The stock was purchased at an average cost of $32.94 per share, for a total transaction of $30,041.28. Following the completion of the acquisition, the director now owns 82,147 shares of the company’s stock, valued at $2,705,922.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.50% of the company’s stock.
Wall Street Analyst Weigh In
Upbound Group Stock Performance
Upbound Group stock opened at $34.19 on Tuesday. The stock’s 50 day simple moving average is $33.13 and its two-hundred day simple moving average is $30.87. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.81 and a current ratio of 3.34. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 244.23 and a beta of 2.03. Upbound Group, Inc. has a fifty-two week low of $22.42 and a fifty-two week high of $36.17.
Upbound Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 19th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.33%. This is a boost from Upbound Group’s previous quarterly dividend of $0.34. The ex-dividend date was Monday, December 18th. Upbound Group’s payout ratio is presently 1,057.22%.
About Upbound Group
Upbound Group, Inc, an omni-channel platform company, leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. The company operates in four segments: Rent-A-Center Business, 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.
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