Wellington Management Group LLP Raises Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Wellington Management Group LLP grew its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD - Free Report) by 2,864.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 405,569 shares of the company's stock after buying an additional 391,888 shares during the quarter. Wellington Management Group LLP owned 0.74% of Upbound Group worth $12,974,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp grew its position in Upbound Group by 2.2% during the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company's stock worth $64,883,000 after acquiring an additional 43,814 shares during the last quarter. Quarry LP raised its holdings in Upbound Group by 374.3% during the 3rd quarter. Quarry LP now owns 3,282 shares of the company's stock valued at $105,000 after buying an additional 2,590 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Upbound Group during the 3rd quarter valued at $4,035,000. Point72 Asset Management L.P. bought a new stake in Upbound Group in the 3rd quarter worth $972,000. Finally, Public Sector Pension Investment Board increased its position in shares of Upbound Group by 4.8% in the third quarter. Public Sector Pension Investment Board now owns 103,292 shares of the company's stock valued at $3,304,000 after acquiring an additional 4,700 shares during the period. Hedge funds and other institutional investors own 90.30% of the company's stock.

Upbound Group Stock Down 5.2 %

Shares of Upbound Group stock traded down $1.75 during trading on Friday, hitting $31.85. The company's stock had a trading volume of 860,452 shares, compared to its average volume of 318,452. Upbound Group, Inc. has a 52 week low of $26.50 and a 52 week high of $38.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.86 and a current ratio of 3.66. The company has a fifty day simple moving average of $31.48 and a two-hundred day simple moving average of $31.77. The company has a market capitalization of $1.74 billion, a PE ratio of 21.97 and a beta of 2.03.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $0.79 earnings per share. The business's revenue was up 9.2% on a year-over-year basis. Equities research analysts predict that Upbound Group, Inc. will post 3.8 earnings per share for the current year.

Upbound Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th will be paid a $0.39 dividend. This is a boost from Upbound Group's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.56 dividend on an annualized basis and a yield of 4.90%. Upbound Group's payout ratio is presently 102.07%.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of $29.25 per share, with a total value of $31,151.25. Following the transaction, the director now owns 85,234 shares of the company's stock, valued at $2,493,094.50. The trade was a 1.27 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on UPBD shares. Stephens started coverage on shares of Upbound Group in a report on Wednesday, November 13th. They set an "overweight" rating and a $38.00 target price for the company. Loop Capital cut their price objective 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 cut their price target on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Tuesday, October 1st. Finally, TD Cowen raised shares of Upbound Group to a "strong-buy" rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Upbound Group 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.