Edgestream Partners L.P. Boosts Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Edgestream Partners L.P. raised its position in Upbound Group, Inc. (NASDAQ:UPBD) by 2.6% during the second quarter, Holdings Channel reports. The firm owned 140,632 shares of the company’s stock after buying an additional 3,601 shares during the quarter. Edgestream Partners L.P.’s holdings in Upbound Group were worth $4,317,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings 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 valued at $34,000 after buying an additional 362 shares during the period. ProShare Advisors LLC increased its stake in Upbound Group by 4.7% during the first quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock worth $373,000 after purchasing an additional 477 shares during the period. Louisiana State Employees Retirement System lifted its position in shares of Upbound Group by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after purchasing an additional 500 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Upbound Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock valued at $1,372,000 after purchasing an additional 522 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Upbound Group in the first quarter valued at approximately $29,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on UPBD shares. Jefferies Financial Group decreased their price target on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. Loop Capital reissued a “hold” rating and set a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. Finally, BTIG Research began coverage on Upbound Group in a research report on Friday, June 7th. They issued a “buy” rating and a $45.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.40.

Insiders Place Their Bets

In related news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the sale, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ralph T. Montrone sold 15,000 shares of Upbound Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $32.48, for a total transaction of $487,200.00. Following the completion of the transaction, the executive vice president now owns 40,074 shares in the company, valued at $1,301,603.52. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Upbound Group Stock Performance

NASDAQ:UPBD opened at $30.75 on Wednesday. Upbound Group, Inc. has a 12 month low of $25.00 and a 12 month high of $38.72. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The firm has a market capitalization of $1.68 billion, a PE ratio of -66.85 and a beta of 2.00. The business’s fifty day moving average price is $32.61 and its 200 day moving average price is $32.33.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 EPS. On average, sell-side analysts anticipate that Upbound Group, Inc. will post 3.81 earnings per share for the current fiscal year.

Upbound Group Company 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.