Covestor Ltd Acquires 828 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Covestor Ltd boosted its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 268.8% during the third quarter, Holdings Channel reports. The firm owned 1,136 shares of the company’s stock after purchasing an additional 828 shares during the quarter. Covestor Ltd’s holdings in Upbound Group were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Summit Global Investments bought a new position in Upbound Group during the third quarter valued at approximately $1,216,000. Olympiad Research LP purchased a new stake in Upbound Group during the third quarter valued at approximately $336,000. Amalgamated Bank increased its holdings in Upbound Group by 3.5% during the third quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock valued at $464,000 after buying an additional 496 shares during the last quarter. New York State Teachers Retirement System increased its holdings in Upbound Group by 0.5% during 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 last quarter. Finally, Trajan Wealth LLC purchased a new stake in Upbound Group during the third quarter valued at approximately $200,000. Institutional investors own 90.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on UPBD shares. Jefferies Financial Group reduced their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a report on Tuesday, October 1st. Loop Capital reduced their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a report on Friday, November 1st. Finally, Stephens began coverage on shares of Upbound Group in a report on Wednesday. They set an “overweight” rating and a $38.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

Upbound Group Price Performance

UPBD stock opened at $31.78 on Friday. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week high of $38.72. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The company has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $31.51. The firm has a market capitalization of $1.74 billion, a P/E ratio of 21.92 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $0.79 earnings per share. Upbound Group’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. 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 dividend payout ratio (DPR) is presently 102.07%.

Insider Transactions at Upbound Group

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

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.