Exchange Traded Concepts LLC Sells 364 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Exchange Traded Concepts LLC trimmed its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 9,628 shares of the company’s stock after selling 364 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Upbound Group were worth $281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its holdings in Upbound Group by 2.2% in the third quarter. State Street Corp now owns 2,028,224 shares of the company’s stock worth $64,883,000 after buying an additional 43,814 shares during the period. Geode Capital Management LLC raised its position in shares of Upbound Group by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,217,880 shares of the company’s stock worth $38,968,000 after acquiring an additional 54,427 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Upbound Group by 3.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 914,047 shares of the company’s stock valued at $29,240,000 after purchasing an additional 33,167 shares during the period. Wellington Management Group LLP boosted its position in shares of Upbound Group by 2,864.5% during the third quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock valued at $12,974,000 after purchasing an additional 391,888 shares in the last quarter. Finally, Barclays PLC grew its stake in Upbound Group by 42.5% in the third quarter. Barclays PLC now owns 316,225 shares of the company’s stock worth $10,116,000 after purchasing an additional 94,333 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 1,146 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $29.01 per share, with a total value of $33,245.46. Following the transaction, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on UPBD shares. Stephens started coverage on Upbound Group in a report on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective for the company. Loop Capital decreased their price target on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, November 1st. Finally, TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.17.

Upbound Group Price Performance

Shares of NASDAQ:UPBD opened at $29.34 on Friday. The business has a fifty day moving average price of $30.97 and a 200-day moving average price of $31.36. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.66 and a quick ratio of 0.86. The company has a market capitalization of $1.60 billion, a PE ratio of 20.23 and a beta of 2.05. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.06. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business earned $0.79 EPS. Upbound Group’s revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts expect that Upbound Group, Inc. will post 3.8 EPS for the current fiscal year.

Upbound Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 7th. Investors of record on Wednesday, December 18th were issued a $0.39 dividend. This is a positive change from Upbound Group’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date was Wednesday, December 18th. Upbound Group’s payout ratio is presently 107.59%.

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.