Tributary Capital Management LLC Sells 500 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Tributary Capital Management LLC lowered its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 4.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,700 shares of the company’s stock after selling 500 shares during the period. Tributary Capital Management LLC’s holdings in Upbound Group were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its stake in shares of 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 valued at $2,578,000 after buying an additional 393 shares during the period. Blue Trust Inc. raised its holdings in Upbound Group by 40.1% in the 3rd quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock valued at $48,000 after acquiring an additional 448 shares in the last quarter. Amalgamated Bank lifted 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 period. Inspire Investing LLC grew its holdings in shares of Upbound Group by 6.3% during the 4th quarter. Inspire Investing LLC now owns 13,798 shares of the company’s stock worth $402,000 after purchasing an additional 818 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of Upbound Group stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the purchase, the director now directly owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $29.57 on Friday. The firm has a 50 day simple moving average of $31.27 and a 200 day simple moving average of $31.41. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 20.39 and a beta of 2.05. Upbound Group, Inc. has a one year low of $26.50 and a one year high of $38.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations 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 was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Research analysts predict that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.39 per share. This is a boost from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend was Wednesday, December 18th. Upbound Group’s payout ratio is 107.59%.

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.