Bank of New York Mellon Corp Grows Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Bank of New York Mellon Corp raised its position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 797,478 shares of the company's stock after purchasing an additional 54,771 shares during the period. Bank of New York Mellon Corp owned 1.46% of Upbound Group worth $23,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. New York State Teachers Retirement System lifted its position in shares of Upbound Group by 0.4% during the 4th quarter. New York State Teachers Retirement System now owns 80,938 shares of the company's stock valued at $2,361,000 after buying an additional 360 shares during the last quarter. Amalgamated Bank lifted its holdings in Upbound Group by 3.5% during the third quarter. Amalgamated Bank now owns 14,491 shares of the company's stock valued at $464,000 after purchasing an additional 496 shares during the last quarter. Blue Trust Inc. boosted its position in Upbound Group by 45.0% during the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock worth $73,000 after purchasing an additional 705 shares during the period. Inspire Investing LLC increased its stake in shares of Upbound Group by 6.3% in the fourth quarter. Inspire Investing LLC now owns 13,798 shares of the company's stock worth $402,000 after purchasing an additional 818 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Upbound Group by 268.8% in the third 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. 90.30% of the stock is owned by hedge funds and other institutional investors.

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Upbound Group Price Performance

Shares of UPBD stock traded down $0.77 on Thursday, reaching $23.58. The company's stock had a trading volume of 311,375 shares, compared to its average volume of 522,365. The company has a market capitalization of $1.35 billion, a P/E ratio of 10.67 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 2.08. The stock's 50 day simple moving average is $28.37 and its 200-day simple moving average is $30.21. Upbound Group, Inc. has a 12-month low of $23.35 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $1.03 by $0.02. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. As a group, equities analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on UPBD shares. Loop Capital lowered their target price on shares of Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Stephens assumed coverage on Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 price objective on the stock. Finally, TD Cowen upgraded Upbound Group to a "strong-buy" rating in a research note on Friday, November 29th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,146 shares of the firm's stock in a transaction on Tuesday, January 7th. The shares were purchased at an average cost of $29.01 per share, with a total value of $33,245.46. Following the completion of the purchase, the director now owns 86,380 shares of the company's stock, valued at $2,505,883.80. The trade was a 1.34 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Fahmi Karam acquired 11,500 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at approximately $4,251,831.04. The trade was a 7.51 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.70% of the company's stock.

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.