Upbound Group, Inc. (NASDAQ:UPBD) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its position in Upbound Group, Inc. (NASDAQ:UPBD) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,491 shares of the company’s stock after purchasing an additional 496 shares during the quarter. Amalgamated Bank’s holdings in Upbound Group were worth $464,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of UPBD. Allspring Global Investments Holdings LLC increased its holdings in Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after buying an additional 1,146 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Upbound Group in the 1st quarter valued at about $112,000. Headlands Technologies LLC acquired a new stake in shares of Upbound Group during the 1st quarter worth about $29,000. Russell Investments Group Ltd. lifted its stake in Upbound Group by 33.0% during the first quarter. Russell Investments Group Ltd. now owns 34,643 shares of the company’s stock worth $1,220,000 after purchasing an additional 8,602 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Upbound Group by 4.7% in the first quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock valued at $373,000 after purchasing an additional 477 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Upbound Group Price Performance

UPBD stock opened at $31.78 on Friday. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $1.74 billion, a P/E ratio of 21.92 and a beta of 2.01. The business has a 50 day simple moving average of $30.18 and a 200-day simple moving average of $31.51. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72.

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

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is presently 102.07%.

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were purchased at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the transaction, the director now directly owns 85,234 shares in the company, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 14,651 shares in the company, 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 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.