Ritholtz Wealth Management Trims Position in Upbound Group, Inc. (NASDAQ:UPBD)

Ritholtz Wealth Management lessened its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 39.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,444 shares of the company’s stock after selling 7,321 shares during the quarter. Ritholtz Wealth Management’s holdings in Upbound Group were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Upbound Group by 3.6% during the 1st 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. Dimensional Fund Advisors LP raised its holdings in Upbound Group by 3.0% in the fourth 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 in the last quarter. LSV Asset Management lifted its position in Upbound Group by 43.0% during the first quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock valued at $59,635,000 after buying an additional 509,343 shares during the period. Bank of New York Mellon Corp lifted its position in 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 period. Finally, Huber Capital Management LLC boosted its holdings in shares of Upbound Group by 25.2% during the 1st quarter. Huber Capital Management LLC now owns 492,195 shares of the company’s stock valued at $17,330,000 after buying an additional 99,004 shares in the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Insider Buying and Selling

In related news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares in the company, valued at $498,134. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey J. Brown purchased 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, with a total value of $30,744.42. Following the completion of the purchase, the director now owns 84,169 shares in the company, valued at $2,509,919.58. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Upbound Group Stock Down 1.9 %

Shares of Upbound Group stock opened at $32.06 on Friday. The company has a 50-day simple moving average of $32.50 and a two-hundred day simple moving average of $32.50. The stock has a market capitalization of $1.75 billion, a PE ratio of -69.70 and a beta of 2.00. Upbound Group, Inc. has a 52-week low of $25.00 and a 52-week high of $38.72. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 3.96.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 price target for the company. Jefferies Financial Group dropped their price target on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and a consensus price target of $40.25.

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.