Martingale Asset Management L P Has $1.62 Million Stock Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Martingale Asset Management L P decreased its position in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 40.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,691 shares of the company's stock after selling 35,025 shares during the quarter. Martingale Asset Management L P owned about 0.09% of Upbound Group worth $1,622,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of UPBD. 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 worth $148,190,000 after acquiring an additional 2,557,906 shares in the last quarter. Marshall Wace LLP increased its stake in Upbound Group by 1,903.6% in the 2nd quarter. Marshall Wace LLP now owns 395,888 shares of the company's stock worth $12,154,000 after purchasing an additional 376,129 shares in the last quarter. Huber Capital Management LLC increased its stake in Upbound Group by 51.4% in the 2nd quarter. Huber Capital Management LLC now owns 745,299 shares of the company's stock worth $22,881,000 after purchasing an additional 253,104 shares in the last quarter. Bank of Montreal Can purchased a new position in Upbound Group in the 2nd quarter worth about $5,607,000. Finally, Algert Global LLC increased its stake in Upbound Group by 82.8% in the 3rd quarter. Algert Global LLC now owns 265,661 shares of the company's stock worth $8,498,000 after purchasing an additional 120,345 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.

Upbound Group Price Performance

Upbound Group stock traded up $0.20 during mid-day trading on Monday, hitting $34.59. 322,021 shares of the company were exchanged, compared to its average volume of 449,270. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.02. The business has a fifty day moving average of $30.83 and a 200 day moving average of $31.61. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72. The company has a market capitalization of $1.89 billion, a PE ratio of 23.86 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share (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 firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $0.79 earnings per share. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts expect that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a $0.37 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.28%. Upbound Group's dividend payout ratio (DPR) is presently 102.07%.

Insider Activity

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

Analyst Ratings Changes

UPBD has been the topic of a number of analyst reports. TD Cowen raised Upbound Group to a "strong-buy" rating in a research note on Friday. Stephens assumed 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. Loop Capital lowered their price target on Upbound Group from $36.00 to $33.00 and set a "hold" rating for the company in a research note on Friday, November 1st. Finally, Jefferies Financial Group lowered 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 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 company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $39.17.

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.