Summit Global Investments Makes New Investment in Upbound Group, Inc. $UPBD

Summit Global Investments bought a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,700 shares of the company’s stock, valued at approximately $779,000. Summit Global Investments owned approximately 0.06% of Upbound Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UPBD. The Manufacturers Life Insurance Company lifted its stake in shares of Upbound Group by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,705 shares of the company’s stock worth $645,000 after purchasing an additional 482 shares during the last quarter. GAMMA Investing LLC grew its stake in Upbound Group by 18.2% in the second quarter. GAMMA Investing LLC now owns 3,360 shares of the company’s stock valued at $71,000 after purchasing an additional 518 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Upbound Group by 18.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,400 shares of the company’s stock worth $60,000 after purchasing an additional 535 shares in the last quarter. LPL Financial LLC lifted its position in shares of Upbound Group by 1.5% during the fourth quarter. LPL Financial LLC now owns 46,341 shares of the company’s stock valued at $814,000 after buying an additional 673 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Upbound Group by 1.3% during the third quarter. Alliancebernstein L.P. now owns 72,428 shares of the company’s stock valued at $1,711,000 after buying an additional 900 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 Upbound Group stock opened at $19.62 on Friday. The company has a 50 day moving average price of $20.04 and a 200 day moving average price of $19.41. The firm has a market capitalization of $1.14 billion, a P/E ratio of 12.74 and a beta of 1.79. The company has a quick ratio of 0.97, a current ratio of 3.22 and a debt-to-equity ratio of 1.94. Upbound Group, Inc. has a 52 week low of $15.82 and a 52 week high of $28.02.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, July 30th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.02. Upbound Group had a net margin of 1.90% and a return on equity of 34.53%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. Upbound Group’s revenue was up .5% compared to the same quarter last year. Upbound Group has set its FY 2026 guidance at 4.000-4.350 EPS and its Q3 2026 guidance at 0.850-0.950 EPS. Sell-side analysts expect that Upbound Group, Inc. will post 4.15 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Tuesday, June 16th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.0%. Upbound Group’s payout ratio is 101.30%.

Wall Street Analysts Forecast Growth

UPBD has been the topic of a number of analyst reports. Zacks Research lowered shares of Upbound Group from a “hold” rating to a “strong sell” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Upbound Group in a research note on Wednesday, June 24th. TD Cowen cut their price target on shares of Upbound Group from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, BTIG Research cut Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.67.

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown acquired 2,295 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were purchased at an average cost of $20.09 per share, with a total value of $46,106.55. Following the completion of the acquisition, the director directly owned 96,681 shares of the company’s stock, valued at $1,942,321.29. This represents a 2.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Upbound Group Company 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. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.