Upbound Group, Inc. (NASDAQ:UPBD) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 3.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,491 shares of the company’s stock after purchasing an additional 496 shares during the period. Amalgamated Bank’s holdings in Upbound Group were worth $464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Ieq Capital LLC raised its position in Upbound Group by 112.7% in the second quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock worth $148,190,000 after acquiring an additional 2,557,906 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Upbound Group by 1,903.6% during the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after purchasing an additional 376,129 shares during the period. SG Capital Management LLC purchased a new position in shares of Upbound Group in the 1st quarter valued at about $12,198,000. Huber Capital Management LLC lifted its stake in shares of Upbound Group by 51.4% in the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock valued at $22,881,000 after purchasing an additional 253,104 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Upbound Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock valued at $211,453,000 after purchasing an additional 209,422 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was bought at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the acquisition, the director now owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. The trade was a 1.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. This trade represents a 50.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UPBD. Stephens assumed coverage on shares of Upbound Group in a report on Wednesday. They issued an “overweight” rating and a $38.00 target price for the company. Loop Capital lowered their price target on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Finally, Jefferies Financial Group reduced their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $39.17.

Upbound Group Stock Down 2.0 %

Shares of NASDAQ UPBD opened at $31.78 on Friday. The firm’s 50-day moving average is $30.18 and its two-hundred day moving average is $31.51. The company has a market capitalization of $1.74 billion, a PE ratio of 21.92 and a beta of 2.01. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month 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 issued its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 EPS. Equities analysts anticipate that Upbound Group, Inc. will post 3.79 EPS for the current fiscal year.

Upbound Group Dividend Announcement

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

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.