Ieq Capital LLC Has $148.19 Million Stake in Upbound Group, Inc. (NASDAQ:UPBD)

Ieq Capital LLC grew its holdings in Upbound Group, Inc. (NASDAQ:UPBD) by 112.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,827,021 shares of the company’s stock after purchasing an additional 2,557,906 shares during the period. Upbound Group comprises 2.0% of Ieq Capital LLC’s portfolio, making the stock its 13th largest holding. Ieq Capital LLC owned about 8.84% of Upbound Group worth $148,190,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in UPBD. LSV Asset Management increased its holdings in shares of Upbound Group by 43.0% in the 1st quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock valued at $59,635,000 after purchasing an additional 509,343 shares during the period. Norges Bank acquired a new position in Upbound Group in the fourth quarter worth approximately $12,170,000. SG Capital Management LLC acquired a new position in Upbound Group in the first quarter worth approximately $12,198,000. Vanguard Group Inc. increased its holdings in Upbound Group by 3.6% in the first quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after buying an additional 209,422 shares during the last quarter. Finally, Huber Capital Management LLC increased its holdings in Upbound Group by 25.2% in the first quarter. Huber Capital Management LLC now owns 492,195 shares of the company’s stock worth $17,330,000 after buying an additional 99,004 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Stock Performance

Shares of Upbound Group stock opened at $31.09 on Friday. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. The stock has a 50 day moving average price of $32.63 and a two-hundred day moving average price of $32.31. Upbound Group, Inc. has a 12-month low of $25.00 and a 12-month high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The company’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, equities analysts predict that Upbound Group, Inc. will post 3.81 EPS for the current year.

Wall Street Analysts Forecast Growth

UPBD has been the topic of a number of research reports. Loop Capital restated a “hold” rating and issued a $36.00 price objective on shares of Upbound Group in a report on Friday, September 13th. BTIG Research initiated coverage on Upbound Group in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price objective on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.40.

Insider Activity

In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction that occurred on 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 $498,134. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Upbound Group news, Director Jeffrey J. Brown acquired 1,031 shares of Upbound Group stock in a transaction dated Tuesday, July 9th. The stock was bought at an average cost of $29.82 per share, with a total value of $30,744.42. Following the completion of the transaction, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s 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 completion of the transaction, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The disclosure for this sale can be found here. 2.70% of the stock is owned by company 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.