Barclays PLC Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Barclays PLC boosted its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 42.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 316,225 shares of the company’s stock after purchasing an additional 94,333 shares during the quarter. Barclays PLC owned approximately 0.58% of Upbound Group worth $10,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in Upbound Group by 47.9% in the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after acquiring an additional 362 shares in the last quarter. Covestor Ltd raised its stake in Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock valued at $37,000 after buying an additional 828 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Upbound Group during the 2nd quarter worth approximately $42,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Upbound Group in the 2nd quarter worth approximately $89,000. Finally, Quarry LP increased its holdings in shares of Upbound Group by 374.3% in the 3rd quarter. Quarry LP now owns 3,282 shares of the company’s stock valued at $105,000 after acquiring an additional 2,590 shares during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Upbound Group Price Performance

NASDAQ:UPBD opened at $32.29 on Tuesday. 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’s 50-day moving average price is $31.48 and its 200 day moving average price is $31.77. Upbound Group, Inc. has a 52-week low of $26.50 and a 52-week high of $38.72. The firm has a market cap of $1.77 billion, a P/E ratio of 22.27 and a beta of 2.03.

Upbound Group (NASDAQ:UPBD) last announced 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. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a return on equity of 34.15% and a net margin of 1.91%. Upbound Group’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 earnings per share. As a group, sell-side analysts predict that Upbound Group, Inc. will post 3.8 earnings per share for the current fiscal year.

Upbound Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.83%. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. Upbound Group’s payout ratio is currently 102.07%.

Insider Activity at Upbound Group

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UPBD shares. Jefferies Financial Group reduced their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Loop Capital cut their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, November 1st. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Finally, Stephens began 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. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

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.