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

Algert Global LLC lifted its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 82.8% in the third quarter, HoldingsChannel reports. The fund owned 265,661 shares of the company’s stock after acquiring an additional 120,345 shares during the period. Algert Global LLC’s holdings in Upbound Group were worth $8,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after purchasing an additional 362 shares during the period. Covestor Ltd boosted its stake in Upbound Group by 268.8% in the 3rd quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares during the period. Meeder Asset Management Inc. bought a new position in Upbound Group in the 2nd quarter worth approximately $42,000. Ashton Thomas Private Wealth LLC bought a new position in Upbound Group in the 2nd quarter worth approximately $89,000. Finally, SG Americas Securities LLC bought a new position in Upbound Group in the 1st quarter worth approximately $112,000. 90.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the company’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 transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. This represents a 50.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Brown acquired 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 transaction, the director now directly owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 1.27 % 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.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $33.80 on Friday. The stock’s fifty day moving average is $30.44 and its 200 day moving average is $31.57. Upbound Group, Inc. has a fifty-two week low of $26.50 and a fifty-two week high of $38.72. The firm has a market capitalization of $1.85 billion, a PE ratio of 23.31 and a beta of 2.01. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.79 EPS. Upbound Group’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently disclosed 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 annualized dividend 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 presently 102.07%.

Analysts Set New Price Targets

UPBD has been the subject of several recent analyst reports. Jefferies Financial Group dropped their price target on Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Stephens initiated coverage on Upbound Group in a report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price objective on the stock. Finally, Loop Capital decreased their price objective on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $39.17.

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.