Fmr LLC Has $138.23 Million Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

FMR LLC lessened its position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,320,993 shares of the company's stock after selling 1,436,968 shares during the period. FMR LLC owned about 7.90% of Upbound Group worth $138,229,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock worth $34,000 after buying an additional 362 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Upbound Group by 0.5% during the 3rd quarter. New York State Teachers Retirement System now owns 80,578 shares of the company's stock worth $2,578,000 after purchasing an additional 393 shares during the period. Amalgamated Bank lifted its holdings in shares of Upbound Group by 3.5% in the 3rd quarter. Amalgamated Bank now owns 14,491 shares of the company's stock worth $464,000 after purchasing an additional 496 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Upbound Group by 2.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company's stock worth $691,000 after purchasing an additional 500 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of 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 last quarter. Institutional investors own 90.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on UPBD shares. Jefferies Financial Group cut their price target on Upbound Group from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Tuesday, October 1st. TD Cowen raised Upbound Group to a "strong-buy" rating in a report on Friday, November 29th. Loop Capital cut their price target on 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 Upbound Group in a research note on Wednesday, November 13th. They set an "overweight" rating and a $38.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Upbound Group currently has an average rating of "Moderate Buy" and an average price target of $39.17.

Insider Activity

In other news, Director Jeffrey J. Brown acquired 1,065 shares of Upbound Group stock in a transaction that occurred on Tuesday, October 22nd. The stock was purchased at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Upbound Group Price Performance

Shares of UPBD traded down $0.15 during midday trading on Wednesday, reaching $34.09. The stock had a trading volume of 325,672 shares, compared to its average volume of 448,017. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week high of $38.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86. The firm's 50 day moving average price is $31.03 and its 200-day moving average price is $31.66. The company has a market capitalization of $1.86 billion, a P/E ratio of 23.51 and a beta of 2.03.

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

Upbound Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued 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 4.34%. Upbound Group's dividend payout ratio is 102.07%.

About Upbound Group

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.