Upbound Group, Inc. (NASDAQ:UPBD) Holdings Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 797,478 shares of the company’s stock after acquiring an additional 54,771 shares during the period. Bank of New York Mellon Corp owned about 1.46% of Upbound Group worth $23,262,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. R Squared Ltd bought a new position in Upbound Group in the fourth quarter worth about $25,000. Covestor Ltd lifted its holdings in Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after acquiring an additional 828 shares during the last quarter. Blue Trust Inc. lifted its holdings in Upbound Group by 45.0% in the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after acquiring an additional 705 shares during the last quarter. Quarry LP lifted its holdings in Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after acquiring an additional 2,590 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Upbound Group in the third quarter worth about $229,000. Institutional investors own 90.30% of the company’s stock.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $25.81 on Monday. Upbound Group, Inc. has a 12 month low of $24.15 and a 12 month high of $38.72. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.68 and a beta of 2.01. The stock’s 50 day moving average price is $28.61 and its 200 day moving average price is $30.35. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Equities research analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on UPBD. Loop Capital cut their price target on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. TD Cowen raised Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Finally, Stephens began coverage on Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target on the stock. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Upbound Group presently has an average rating of “Moderate Buy” and an average price target of $37.00.

Insider Buying and Selling

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,146 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were purchased at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This represents a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

About Upbound Group

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.