Optimist Retirement Group LLC Sells 2,901 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Optimist Retirement Group LLC cut its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 29.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,075 shares of the company’s stock after selling 2,901 shares during the quarter. Optimist Retirement Group LLC’s holdings in Upbound Group were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in UPBD. LSV Asset Management grew 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 worth $59,635,000 after acquiring an additional 509,343 shares during the period. Norges Bank bought a new stake in shares of Upbound Group in the fourth quarter worth approximately $12,170,000. SG Capital Management LLC bought a new stake in shares of Upbound Group in the first quarter worth approximately $12,198,000. Vanguard Group Inc. grew its stake in shares of Upbound Group by 3.6% in 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 period. Finally, Huber Capital Management LLC grew its stake in shares of Upbound Group by 25.2% in the first quarter. Huber Capital Management LLC now owns 492,195 shares of the company’s stock worth $17,330,000 after acquiring an additional 99,004 shares during the period. 90.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on UPBD. BTIG Research began coverage on shares of Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Loop Capital reissued a “hold” rating and issued a $36.00 price objective on shares of Upbound Group in a report on Friday, September 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Upbound Group has an average rating of “Moderate Buy” and a consensus target price of $39.40.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $30.70 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72. The company has a market capitalization of $1.68 billion, a P/E ratio of -66.73 and a beta of 2.00. The firm’s 50 day simple moving average is $32.63 and its two-hundred day simple moving average is $32.32.

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

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,031 shares of the stock in a transaction on Tuesday, July 9th. The shares were acquired at an average price 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 of the company’s stock, valued at $2,509,919.58. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey J. Brown acquired 1,031 shares of Upbound Group stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the transaction, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The disclosure for this purchase can be found here. 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.