Los Angeles Capital Management LLC Purchases Shares of 38,386 Upbound Group, Inc. $UPBD

Los Angeles Capital Management LLC purchased a new stake in Upbound Group, Inc. (NASDAQ:UPBD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 38,386 shares of the company’s stock, valued at approximately $963,000.

A number of other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Upbound Group by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 791,626 shares of the company’s stock valued at $19,870,000 after acquiring an additional 10,610 shares in the last quarter. Corton Capital Inc. acquired a new stake in shares of Upbound Group in the second quarter valued at approximately $252,000. Teacher Retirement System of Texas lifted its position in shares of Upbound Group by 367.9% in the second quarter. Teacher Retirement System of Texas now owns 67,336 shares of the company’s stock worth $1,690,000 after purchasing an additional 52,944 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Upbound Group during the second quarter worth $1,057,000. Finally, Nisa Investment Advisors LLC grew its position in Upbound Group by 5.5% in the second quarter. Nisa Investment Advisors LLC now owns 12,183 shares of the company’s stock valued at $311,000 after purchasing an additional 638 shares in the last quarter. 90.30% of the stock is currently owned by institutional investors.

Upbound Group Stock Down 2.5%

Shares of UPBD stock opened at $17.03 on Friday. Upbound Group, Inc. has a 52-week low of $16.84 and a 52-week high of $36.00. The stock has a market cap of $986.14 million, a price-to-earnings ratio of 9.57 and a beta of 1.80. The firm’s 50-day moving average is $22.56 and its 200-day moving average is $23.70. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.83 and a current ratio of 3.11.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Upbound Group had a return on equity of 36.26% and a net margin of 2.28%.The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Upbound Group has set its FY 2025 guidance at 4.050-4.150 EPS. Sell-side analysts predict that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, September 30th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 9.2%. Upbound Group’s payout ratio is presently 107.59%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on UPBD shares. TD Cowen lowered their price target on shares of Upbound Group from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Upbound Group in a research report on Wednesday, October 8th. Wall Street Zen cut Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Zacks Research downgraded Upbound Group from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Finally, Loop Capital raised Upbound Group from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Monday, September 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.50.

Insiders Place Their Bets

In other Upbound Group news, EVP Ralph T. Montrone sold 6,000 shares of Upbound Group stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $25.23, for a total transaction of $151,380.00. Following the completion of the transaction, the executive vice president directly owned 49,123 shares of the company’s stock, valued at $1,239,373.29. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey J. Brown acquired 1,951 shares of the firm’s stock in a transaction on Tuesday, October 21st. The stock was bought at an average price of $22.27 per share, for a total transaction of $43,448.77. Following the completion of the acquisition, the director owned 90,965 shares of the company’s stock, valued at approximately $2,025,790.55. The trade was a 2.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is currently owned by corporate 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.