Fmr LLC Reduces Stock Position in Upbound Group, Inc. (NASDAQ:UPBD)

Fmr LLC decreased its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 25.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,320,993 shares of the company’s stock after selling 1,436,968 shares during the quarter. Fmr LLC owned about 7.90% of Upbound Group worth $138,229,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock worth $34,000 after acquiring an additional 362 shares during the last quarter. Covestor Ltd increased its position in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Upbound Group during the second quarter worth about $42,000. Ashton Thomas Private Wealth LLC acquired a new position in Upbound Group in the 2nd quarter valued at about $89,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Upbound Group in the 3rd quarter valued at approximately $142,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Price Performance

UPBD opened at $34.24 on Wednesday. The stock’s 50-day moving average price is $30.98 and its 200 day moving average price is $31.64. Upbound Group, Inc. has a 12-month low of $26.50 and a 12-month high of $38.72. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 23.61 and a beta of 2.03. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.02.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts expect that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.32%. Upbound Group’s payout ratio is 102.07%.

Wall Street Analyst Weigh In

UPBD has been the topic of several analyst reports. Loop Capital reduced their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. 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 report on Tuesday, October 1st. Finally, Stephens began coverage on shares of Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective on the stock. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.17.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown acquired 1,065 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were bought 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 in the company, valued at approximately $2,493,094.50. This trade represents a 1.27 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

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.