37,997 Shares in Upbound Group, Inc. (NASDAQ:UPBD) Bought by Summit Global Investments

Summit Global Investments acquired a new position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,997 shares of the company's stock, valued at approximately $1,216,000. Summit Global Investments owned about 0.07% of Upbound Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Upbound Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company's stock valued at $211,453,000 after purchasing an additional 209,422 shares during the last quarter. Ieq Capital LLC raised its position in Upbound Group by 112.7% in the second quarter. Ieq Capital LLC now owns 4,827,021 shares of the company's stock valued at $148,190,000 after purchasing an additional 2,557,906 shares during the last quarter. Bank of New York Mellon Corp raised its position in Upbound Group by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company's stock valued at $23,386,000 after purchasing an additional 15,219 shares during the last quarter. Huber Capital Management LLC raised its position in Upbound Group by 51.4% in the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company's stock valued at $22,881,000 after purchasing an additional 253,104 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Upbound Group by 1,903.6% in the second quarter. Marshall Wace LLP now owns 395,888 shares of the company's stock valued at $12,154,000 after purchasing an additional 376,129 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Jeffrey J. Brown acquired 1,065 shares of Upbound Group stock in a transaction 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 purchase, the director now owns 85,234 shares of the company's stock, valued at approximately $2,493,094.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Jeffrey J. Brown acquired 1,065 shares of Upbound Group stock in a transaction 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 purchase, the director now owns 85,234 shares of the company's stock, valued at approximately $2,493,094.50. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 14,651 shares of the company's stock, valued at $498,134. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Upbound Group Trading Up 0.5 %

Shares of UPBD stock traded up $0.17 on Friday, hitting $32.97. The company had a trading volume of 641,563 shares, compared to its average volume of 455,311. The stock's 50-day moving average is $30.14 and its two-hundred day moving average is $31.47. Upbound Group, Inc. has a twelve month low of $26.50 and a twelve month high of $38.72. The firm has a market cap of $1.80 billion, a P/E ratio of 22.74 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 - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.95 EPS for the quarter, topping 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 business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The firm's revenue was up 9.2% on a year-over-year basis. On average, equities research analysts anticipate that Upbound Group, Inc. will post 3.79 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 annualized dividend and a yield of 4.49%. Upbound Group's dividend payout ratio is currently 102.07%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Loop Capital dropped their target price on Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research report on Friday, November 1st. 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 note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.40.

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.