Quest Partners LLC Sells 21,084 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Quest Partners LLC decreased its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 75.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,682 shares of the company's stock after selling 21,084 shares during the quarter. Quest Partners LLC's holdings in Upbound Group were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in shares of Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company's stock valued at $34,000 after acquiring an additional 362 shares during the period. Covestor Ltd boosted its holdings in Upbound Group by 268.8% in 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 period. Meeder Asset Management Inc. acquired a new stake in Upbound Group in the 2nd quarter worth $42,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Upbound Group during the 2nd quarter worth about $89,000. Finally, SG Americas Securities LLC acquired a new position in shares of Upbound Group during the third quarter valued at about $142,000. Institutional investors and hedge funds own 90.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,065 shares of the company's stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now owns 85,234 shares in the company, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

Upbound Group Price Performance

NASDAQ UPBD traded up $0.05 during trading on Thursday, reaching $34.45. 231,132 shares of the company traded hands, compared to its average volume of 451,022. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 23.76 and a beta of 2.01. The stock's 50 day moving average price is $30.68 and its two-hundred day moving average price is $31.60. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $0.06. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. The business's revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, analysts anticipate that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group's dividend payout ratio is currently 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.