Algert Global LLC Acquires 120,345 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Algert Global LLC raised its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 82.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,661 shares of the company’s stock after buying an additional 120,345 shares during the period. Algert Global LLC owned about 0.49% of Upbound Group worth $8,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UPBD. Blue Trust Inc. boosted its holdings in shares of Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares in the last quarter. Covestor Ltd boosted its stake in Upbound Group by 268.8% during the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after purchasing an additional 828 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Upbound Group during the 2nd quarter valued at about $42,000. Ashton Thomas Private Wealth LLC acquired a new position in Upbound Group during the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC purchased a new position in shares of Upbound Group in the 1st quarter worth approximately $112,000. Institutional investors own 90.30% of the company’s stock.

Analysts Set New Price Targets

UPBD has been the topic of several research analyst reports. Loop Capital dropped their price objective on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Jefferies Financial Group lowered their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Finally, Stephens assumed coverage on shares of Upbound Group in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and an average target price of $39.17.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown purchased 1,065 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the purchase, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. This trade represents a 1.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $498,134. This represents a 50.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Upbound Group Stock Performance

Shares of Upbound Group stock opened at $33.80 on Friday. The business has a fifty day simple moving average of $30.44 and a two-hundred day simple moving average of $31.57. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $1.85 billion, a P/E ratio of 23.31 and a beta of 2.01. Upbound Group, Inc. has a 12 month low of $26.50 and a 12 month high of $38.72.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. Upbound Group’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts forecast that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is 102.07%.

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.