Martingale Asset Management L P Cuts Holdings in Upbound Group, Inc. (NASDAQ:UPBD)

Martingale Asset Management L P decreased its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 40.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 50,691 shares of the company’s stock after selling 35,025 shares during the period. Martingale Asset Management L P’s holdings in Upbound Group were worth $1,622,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ieq Capital LLC grew 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 acquiring an additional 2,557,906 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Upbound Group by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 914,047 shares of the company’s stock worth $29,240,000 after buying an additional 33,167 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 worth $23,386,000 after buying an additional 15,219 shares during the last quarter. Huber Capital Management LLC increased its stake in shares of Upbound Group by 51.4% in the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock worth $22,881,000 after buying an additional 253,104 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Upbound Group by 1,903.6% in the second quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after buying an additional 376,129 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Upbound Group Stock Down 0.2 %

Upbound Group stock opened at $34.39 on Monday. The company has a 50-day simple moving average of $30.83 and a 200-day simple moving average of $31.61. The firm has a market capitalization of $1.88 billion, a P/E ratio of 23.72 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, Inc. has a one year low of $26.50 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results 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 company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that Upbound Group, Inc. will post 3.79 earnings per share for the current year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 4.30%. Upbound Group’s dividend payout ratio is presently 102.07%.

Analysts Set New Price Targets

Several research firms have recently weighed in on UPBD. Jefferies Financial Group dropped their target price on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, October 1st. Stephens started coverage on Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective for the company. 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 report on Friday, November 1st. Finally, TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

Insider Activity at Upbound Group

In related news, Director Jeffrey J. Brown acquired 1,065 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was acquired at an average cost of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $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 is available through the SEC website. 2.70% of the stock is currently owned by insiders.

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.