Federated Hermes Inc. Sells 699 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Federated Hermes Inc. reduced its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 283,192 shares of the company’s stock after selling 699 shares during the period. Federated Hermes Inc. owned approximately 0.52% of Upbound Group worth $8,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of Upbound Group in the 2nd quarter valued at approximately $42,000. Texas Permanent School Fund Corp grew its stake in shares of Upbound Group by 62.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 63,332 shares of the company’s stock valued at $1,944,000 after purchasing an additional 24,367 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Upbound Group during the 2nd quarter worth approximately $89,000. Quest Partners LLC grew its position 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 acquiring an additional 4,299 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Upbound Group by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 38,895 shares of the company’s stock worth $1,194,000 after acquiring an additional 3,178 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Upbound Group Stock Up 0.8 %

NASDAQ:UPBD opened at $30.75 on Wednesday. The stock’s fifty day moving average price is $32.61 and its two-hundred day moving average price is $32.33. 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. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -66.85 and a beta of 2.00.

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

Insider Activity

In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction on 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 approximately $498,134. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Ralph T. Montrone sold 15,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total transaction of $487,200.00. Following the sale, the executive vice president now owns 40,074 shares of the company’s stock, valued at approximately $1,301,603.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the sale, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. The disclosure for this sale can be found here. 2.70% of the stock is currently 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.