Upbound Group, Inc. (NASDAQ:UPBD) Stock Holdings Lifted by Covestor Ltd

Covestor Ltd grew its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 268.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,136 shares of the company’s stock after buying an additional 828 shares during the period. Covestor Ltd’s holdings in Upbound Group were worth $37,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Upbound Group by 232.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares during the last quarter. SG Americas Securities LLC acquired a new position in Upbound Group in the 1st quarter valued at approximately $112,000. Headlands Technologies LLC acquired a new position in Upbound Group in the 1st quarter valued at approximately $29,000. Russell Investments Group Ltd. raised its holdings in Upbound Group by 33.0% in the 1st quarter. Russell Investments Group Ltd. now owns 34,643 shares of the company’s stock valued at $1,220,000 after acquiring an additional 8,602 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Upbound Group by 4.7% in the 1st quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock valued at $373,000 after purchasing an additional 477 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Transactions at Upbound Group

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

Upbound Group Stock Performance

Shares of Upbound Group stock opened at $31.78 on Friday. The stock has a market cap 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 twelve month low of $26.50 and a twelve month high of $38.72. The company’s fifty day moving average is $30.18 and its 200 day moving average is $31.51.

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

Upbound Group Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 4.66%. Upbound Group’s payout ratio is currently 102.07%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Stephens initiated coverage on Upbound Group in a research note on Wednesday. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Loop Capital lowered their target price on Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

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.