Upbound Group, Inc. $UPBD Stock Position Lifted by LSV Asset Management

LSV Asset Management raised its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 24.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,532,951 shares of the company’s stock after buying an additional 491,536 shares during the quarter. LSV Asset Management owned 4.37% of Upbound Group worth $59,854,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Security National Bank purchased a new position in shares of Upbound Group during the 3rd quarter valued at $57,000. GAMMA Investing LLC boosted its position in Upbound Group by 44.7% during the third quarter. GAMMA Investing LLC now owns 3,787 shares of the company’s stock valued at $89,000 after purchasing an additional 1,170 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in Upbound Group in the second quarter valued at about $95,000. Advisors Asset Management Inc. grew its stake in Upbound Group by 18.2% in the second quarter. Advisors Asset Management Inc. now owns 4,625 shares of the company’s stock valued at $116,000 after purchasing an additional 713 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Upbound Group by 47.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,891 shares of the company’s stock worth $123,000 after purchasing an additional 1,574 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Insider Activity

In other Upbound Group news, Director Jeffrey J. Brown acquired 2,502 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were acquired at an average cost of $17.68 per share, for a total transaction of $44,235.36. Following the completion of the purchase, the director owned 92,972 shares of the company’s stock, valued at approximately $1,643,744.96. This trade represents a 2.77% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

UPBD has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Upbound Group in a research note on Monday, December 29th. BTIG Research reduced their target price on shares of Upbound Group from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Wall Street Zen lowered shares of Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Zacks Research upgraded shares of Upbound Group from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Upbound Group in a report on Thursday, January 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

Upbound Group Trading Up 0.1%

NASDAQ:UPBD opened at $19.83 on Friday. The company’s 50 day moving average is $18.84 and its 200-day moving average is $20.98. The company has a quick ratio of 0.98, a current ratio of 3.16 and a debt-to-equity ratio of 2.25. Upbound Group, Inc. has a 12 month low of $15.82 and a 12 month high of $30.20. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 13.68 and a beta of 1.88.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Wednesday, December 17th. Upbound Group’s dividend payout ratio is 107.59%.

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. It offers furniture comprising mattresses, tires, consumer electronics, appliances, tools, handbags, computers, smartphones, and accessories.