Proficio Capital Partners LLC Acquires New Shares in Upbound Group, Inc. (NASDAQ:UPBD)

Proficio Capital Partners LLC acquired a new stake in Upbound Group, Inc. (NASDAQ:UPBD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,034 shares of the company’s stock, valued at approximately $293,000.

A number of other large investors have also recently added to or reduced their stakes in UPBD. Wellington Management Group LLP lifted its holdings in Upbound Group by 2,864.5% in the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock valued at $12,974,000 after acquiring an additional 391,888 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Upbound Group in the third quarter valued at approximately $4,035,000. Algert Global LLC raised its position in Upbound Group by 82.8% in the third quarter. Algert Global LLC now owns 265,661 shares of the company’s stock valued at $8,498,000 after purchasing an additional 120,345 shares during the period. JPMorgan Chase & Co. raised its position in Upbound Group by 130.3% in the third quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock valued at $5,835,000 after purchasing an additional 103,212 shares during the period. Finally, Barclays PLC raised its position in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company’s stock valued at $10,116,000 after purchasing an additional 94,333 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Stock Down 2.5 %

Upbound Group stock opened at $25.17 on Wednesday. Upbound Group, Inc. has a twelve month low of $24.15 and a twelve month high of $38.72. The stock’s fifty day simple moving average is $28.47 and its 200-day simple moving average is $30.25. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $1.45 billion, a P/E ratio of 11.39 and a beta of 2.01.

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

Insider Activity at Upbound Group

In other Upbound Group news, CFO Fahmi Karam bought 11,500 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now directly owns 164,672 shares of the company’s stock, valued at $4,251,831.04. This represents a 7.51 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Brown acquired 1,146 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, with a total value of $33,245.46. Following the purchase, the director now directly owns 86,380 shares of the company’s stock, valued at $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.