Ashton Thomas Private Wealth LLC Takes $89,000 Position in Upbound Group, Inc. (NASDAQ:UPBD)

Ashton Thomas Private Wealth LLC purchased a new stake in Upbound Group, Inc. (NASDAQ:UPBD) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,886 shares of the company’s stock, valued at approximately $89,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UPBD. Quest Partners LLC increased its stake in Upbound Group by 18.3% during the 2nd quarter. Quest Partners LLC now owns 27,766 shares of the company’s stock worth $852,000 after buying an additional 4,299 shares during the period. Victory Capital Management Inc. increased its position in shares of Upbound Group by 8.9% in the 2nd quarter. Victory Capital Management Inc. now owns 38,895 shares of the company’s stock valued at $1,194,000 after purchasing an additional 3,178 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Upbound Group in the 2nd quarter valued at approximately $737,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Upbound Group by 33.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,674 shares of the company’s stock valued at $328,000 after purchasing an additional 2,664 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Upbound Group by 2.0% in the 2nd 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 in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Upbound Group Stock Up 3.7 %

UPBD stock opened at $30.93 on Friday. The company has a fifty day moving average of $32.57 and a 200-day moving average of $32.39. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 3.96. The stock has a market capitalization of $1.69 billion, a PE ratio of -67.24 and a beta of 2.00. Upbound Group, Inc. has a one year low of $25.00 and a one year high of $38.72.

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

Insider Activity

In related news, Director Jeffrey J. Brown purchased 1,031 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the acquisition, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Upbound Group news, Director Jeffrey J. Brown bought 1,031 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was purchased at an average cost of $29.82 per share, for a total transaction of $30,744.42. Following the acquisition, the director now owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $34.00, for a total transaction 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 disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.