Edgestream Partners L.P. Grows Position in Upbound Group, Inc. (NASDAQ:UPBD)

Edgestream Partners L.P. increased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 93.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 63,841 shares of the company’s stock after buying an additional 30,850 shares during the period. Edgestream Partners L.P.’s holdings in Upbound Group were worth $1,862,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in UPBD. Wellington Management Group LLP increased its stake in Upbound Group by 2,864.5% in the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock valued at $12,974,000 after purchasing an additional 391,888 shares during the last quarter. Geode Capital Management LLC increased its stake in Upbound Group by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock valued at $38,968,000 after purchasing an additional 54,427 shares during the last quarter. Barclays PLC increased its stake in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company’s stock valued at $10,116,000 after purchasing an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 last quarter. Finally, State Street Corp increased its stake in Upbound Group by 2.2% in the third quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after purchasing an additional 43,814 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Stock Performance

Shares of UPBD opened at $25.81 on Monday. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The firm has a market cap of $1.48 billion, a PE ratio of 11.68 and a beta of 2.01. The company’s 50 day simple moving average is $28.61 and its 200-day simple moving average is $30.35. Upbound Group, Inc. has a 12-month low of $24.15 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. As a group, equities analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 1,146 shares of the stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now owns 86,380 shares in the company, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on UPBD shares. Stephens started coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price target on the stock. TD Cowen upgraded shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Loop Capital dropped their price target on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.00.

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.