Legal & General Group Plc acquired a new stake in Upbound Group, Inc. (NASDAQ:UPBD – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 118,017 shares of the company’s stock, valued at approximately $2,504,000. Legal & General Group Plc owned about 0.20% of Upbound Group at the end of the most recent quarter.
Several other large investors have also modified their holdings of UPBD. The Manufacturers Life Insurance Company increased its holdings in shares of Upbound Group by 1.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,705 shares of the company’s stock valued at $645,000 after acquiring an additional 482 shares during the period. GAMMA Investing LLC boosted its stake in Upbound Group by 18.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,360 shares of the company’s stock worth $71,000 after purchasing an additional 518 shares during the period. Public Employees Retirement System of Ohio grew its position in Upbound Group by 18.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,400 shares of the company’s stock worth $60,000 after purchasing an additional 535 shares during the last quarter. LPL Financial LLC grew its position in Upbound Group by 1.5% during the 4th quarter. LPL Financial LLC now owns 46,341 shares of the company’s stock worth $814,000 after purchasing an additional 673 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Upbound Group by 1.3% in the third quarter. Alliancebernstein L.P. now owns 72,428 shares of the company’s stock valued at $1,711,000 after purchasing an additional 900 shares during the period. 90.30% of the stock is owned by institutional investors and hedge funds.
Upbound Group Trading Up 1.7%
NASDAQ UPBD opened at $18.98 on Friday. The company has a quick ratio of 0.97, a current ratio of 3.22 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $1.11 billion, a P/E ratio of 12.32 and a beta of 1.77. Upbound Group, Inc. has a 52-week low of $15.82 and a 52-week high of $28.02. The firm has a 50-day moving average price of $20.11 and a 200 day moving average price of $19.33.
Insider Buying and Selling
In other Upbound Group news, Director Jeffrey Brown purchased 2,295 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were purchased at an average cost of $20.09 per share, for a total transaction of $46,106.55. Following the completion of the purchase, the director directly owned 96,681 shares in the company, valued at $1,942,321.29. This represents a 2.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Anthony Blasquez sold 10,000 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $18.85, for a total value of $188,500.00. Following the transaction, the executive vice president directly owned 43,717 shares in the company, valued at $824,065.45. This represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by insiders.
Analyst Ratings Changes
UPBD has been the subject of a number of research reports. BTIG Research cut shares of Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a report on Friday, July 31st. Weiss Ratings raised Upbound Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. Zacks Research cut Upbound Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, TD Cowen dropped their target price on Upbound Group from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.67.
Get Our Latest Analysis on Upbound Group
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.
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