Cornercap Investment Counsel Inc. Sells 16,072 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Cornercap Investment Counsel Inc. lessened its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 51.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,210 shares of the company’s stock after selling 16,072 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Upbound Group were worth $487,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after acquiring an additional 362 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Upbound Group by 0.5% during the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock valued at $2,578,000 after acquiring an additional 393 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Upbound Group by 4.7% during the 1st quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock valued at $373,000 after acquiring an additional 477 shares during the last quarter. Amalgamated Bank raised its position in shares of Upbound Group by 3.5% during the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock valued at $464,000 after acquiring an additional 496 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Upbound Group by 2.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock valued at $691,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Price Performance

Shares of UPBD stock opened at $31.78 on Friday. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 21.92 and a beta of 2.01. 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, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72. The firm has a fifty day moving average of $30.18 and a 200-day moving average of $31.51.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS. On average, equities research analysts forecast that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.66%. Upbound Group’s dividend payout ratio is 102.07%.

Analysts Set New Price Targets

Several analysts have commented on UPBD shares. Jefferies Financial Group dropped their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, October 1st. Stephens started coverage on shares of Upbound Group in a report on Wednesday. They issued an “overweight” rating and a $38.00 price target for the company. Finally, Loop Capital decreased their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Transactions at Upbound Group

In other news, Director Jeffrey J. Brown bought 1,065 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were bought at an average cost of $29.25 per share, with a total value of $31,151.25. Following the acquisition, the director now owns 85,234 shares in the company, valued at $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. The trade was a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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.