Upbound Group, Inc. (NASDAQ:UPBD) Shares Acquired by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp increased its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 62.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,332 shares of the company’s stock after buying an additional 24,367 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of Upbound Group worth $1,944,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Upbound Group by 3.6% during the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after acquiring an additional 209,422 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Upbound Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,148,331 shares of the company’s stock worth $72,981,000 after purchasing an additional 62,832 shares during the last quarter. LSV Asset Management increased its stake in shares of Upbound Group by 43.0% in the first quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock valued at $59,635,000 after purchasing an additional 509,343 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Upbound Group by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company’s stock valued at $23,386,000 after buying an additional 15,219 shares during the last quarter. Finally, Huber Capital Management LLC boosted its position in shares of Upbound Group by 25.2% during the first quarter. Huber Capital Management LLC now owns 492,195 shares of the company’s stock worth $17,330,000 after buying an additional 99,004 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BTIG Research began coverage on Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Loop Capital reiterated a “hold” rating and issued a $36.00 target price on shares of Upbound Group in a research report on Friday, September 13th. Finally, Jefferies Financial Group lowered their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown bought 1,031 shares of Upbound Group stock in a transaction dated Tuesday, July 9th. The stock was acquired at an average cost of $29.82 per share, with a total value of $30,744.42. Following the completion of the acquisition, the director now directly owns 84,169 shares in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jeffrey J. Brown acquired 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were purchased at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the acquisition, the director now owns 84,169 shares in the company, valued at $2,509,919.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Upbound Group Price Performance

Shares of Upbound Group stock opened at $30.75 on Wednesday. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $38.72. The company has a current ratio of 3.96, a quick ratio of 0.84 and a debt-to-equity ratio of 2.21. The stock has a market cap of $1.68 billion, a PE ratio of -66.85 and a beta of 2.00. The company’s 50-day moving average price is $32.61 and its two-hundred day moving average price is $32.33.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.03 by $0.01. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 earnings per share. As a group, sell-side analysts anticipate that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

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.