Algert Global LLC Grows Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Algert Global LLC grew its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 82.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,661 shares of the company's stock after buying an additional 120,345 shares during the quarter. Algert Global LLC owned 0.49% of Upbound Group worth $8,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in Upbound Group in the 1st quarter valued at $112,000. Russell Investments Group Ltd. lifted its position in shares of Upbound Group by 33.0% during the first quarter. Russell Investments Group Ltd. now owns 34,643 shares of the company's stock valued at $1,220,000 after purchasing an additional 8,602 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Upbound Group by 35.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,267 shares of the company's stock worth $749,000 after purchasing an additional 5,530 shares during the last quarter. Vanguard Group Inc. grew its position in Upbound Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company's stock worth $211,453,000 after purchasing an additional 209,422 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Upbound Group by 4.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,034 shares of the company's stock valued at $1,902,000 after buying an additional 2,200 shares during the last quarter. 90.30% of the stock is owned by institutional investors.

Upbound Group Stock Performance

UPBD traded up $0.81 during trading hours on Friday, hitting $33.80. The stock had a trading volume of 359,835 shares, compared to its average volume of 438,522. The stock has a market cap of $1.85 billion, a PE ratio of 23.31 and a beta of 2.01. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The company's fifty day simple moving average is $30.44 and its 200 day simple moving average is $31.56. Upbound Group, Inc. has a 1 year low of $26.50 and a 1 year high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $0.79 EPS. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts anticipate that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.38%. Upbound Group's dividend payout ratio (DPR) is currently 102.07%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UPBD shares. Jefferies Financial Group decreased their price target on Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Tuesday, October 1st. Loop Capital cut their price target on shares of Upbound Group from $36.00 to $33.00 and set a "hold" rating on the stock in a report on Friday, November 1st. Finally, Stephens initiated coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Upbound Group has an average rating of "Moderate Buy" and an average price target of $39.17.

Insiders Place Their Bets

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm's stock in a transaction on 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 $498,134. This trade represents a 50.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey J. Brown bought 1,065 shares of the business's stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 85,234 shares of the company's stock, 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. Corporate insiders own 2.70% of the company's stock.

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.