Sanctuary Advisors LLC Raises Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Sanctuary Advisors LLC grew its holdings in Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 320.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 31,519 shares of the company's stock after buying an additional 24,014 shares during the quarter. Sanctuary Advisors LLC owned approximately 0.06% of Upbound Group worth $942,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in UPBD. Wellington Management Group LLP raised its stake in Upbound Group by 2,864.5% in the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company's stock worth $12,974,000 after buying an additional 391,888 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Upbound Group by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company's stock worth $38,968,000 after acquiring an additional 54,427 shares during the period. Barclays PLC raised its holdings in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company's stock worth $10,116,000 after purchasing an additional 94,333 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Upbound Group by 130.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company's stock worth $5,835,000 after acquiring an additional 103,212 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Upbound Group by 2.2% in the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after purchasing an additional 43,814 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Loop Capital reduced their price objective on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Stephens began coverage on Upbound Group in a research report on Wednesday, November 13th. They issued an "overweight" rating and a $38.00 target price on the stock. Finally, TD Cowen upgraded Upbound Group to a "strong-buy" rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong 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 $38.20.

Upbound Group Price Performance

UPBD traded down $0.78 during trading on Friday, reaching $25.82. 821,110 shares of the company traded hands, compared to its average volume of 479,752. Upbound Group, Inc. has a 12-month low of $25.50 and a 12-month high of $38.72. The firm has a fifty day simple moving average of $29.09 and a 200 day simple moving average of $30.59. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. The company has a market cap of $1.48 billion, a P/E ratio of 11.68 and a beta of 2.05.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, equities analysts forecast that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th were given a $0.39 dividend. This is an increase from Upbound Group's previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend was Wednesday, December 18th. Upbound Group's payout ratio is currently 70.59%.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,146 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of $29.01 per share, with a total value of $33,245.46. Following the acquisition, the director now directly owns 86,380 shares of the company's stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

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.