Edgestream Partners L.P. Grows Position in Upbound Group, Inc. (NASDAQ:UPBD)

Edgestream Partners L.P. raised its holdings in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 93.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,841 shares of the company’s stock after buying an additional 30,850 shares during the quarter. Edgestream Partners L.P. owned about 0.12% of Upbound Group worth $1,862,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Upbound Group by 2,864.5% during the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock valued at $12,974,000 after acquiring an additional 391,888 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Upbound Group by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock valued at $38,968,000 after acquiring an additional 54,427 shares during the last quarter. Barclays PLC boosted its position in shares of Upbound Group by 42.5% during the 3rd quarter. Barclays PLC now owns 316,225 shares of the company’s stock valued at $10,116,000 after acquiring an additional 94,333 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Upbound Group by 130.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 182,397 shares of the company’s stock valued at $5,835,000 after acquiring an additional 103,212 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Upbound Group by 2.2% during the 3rd quarter. State Street Corp now owns 2,028,224 shares of the company’s stock valued at $64,883,000 after acquiring an additional 43,814 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens assumed coverage on shares of Upbound Group in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target on the stock. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research report on Friday, November 29th. Finally, Loop Capital decreased their target price on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown purchased 1,146 shares of Upbound Group stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average price of $29.01 per share, with a total value of $33,245.46. Following the completion of the transaction, the director now owns 86,380 shares of the company’s stock, valued at $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company’s stock.

Upbound Group Trading Up 4.1 %

NASDAQ UPBD opened at $25.81 on Monday. The firm’s 50-day moving average is $28.61 and its two-hundred day moving average is $30.35. Upbound Group, Inc. has a 12 month low of $24.15 and a 12 month high of $38.72. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.68 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last posted its earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. On average, sell-side analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

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.