Upbound Group, Inc. (NASDAQ:UPBD) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 761,765 shares of the company’s stock after purchasing an additional 15,219 shares during the period. Bank of New York Mellon Corp owned about 1.39% of Upbound Group worth $23,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Headlands Technologies LLC purchased a new stake in Upbound Group during the first quarter valued at about $29,000. Blue Trust Inc. lifted its position 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 acquiring an additional 362 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Upbound Group by 232.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares during the period. TFO Wealth Partners LLC grew its position in Upbound Group by 44,716.7% during the 4th quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock worth $91,000 after purchasing an additional 2,683 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Upbound Group during the 1st quarter valued at $112,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Trading Down 1.1 %

Upbound Group stock opened at $32.67 on Thursday. Upbound Group, Inc. has a 12 month low of $25.00 and a 12 month high of $38.72. 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 market cap of $1.79 billion, a P/E ratio of -71.02 and a beta of 2.00. The company’s fifty day simple moving average is $32.50 and its 200-day simple moving average is $32.50.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.01. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates 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 was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. As a group, sell-side analysts forecast that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Insider Activity at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown bought 1,031 shares of the firm’s stock in a transaction on 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 directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, 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 transaction of $514,318.00. Following the completion of the transaction, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey J. Brown purchased 1,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was bought at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the transaction, the director now directly owns 84,169 shares in the company, valued at $2,509,919.58. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on UPBD shares. Jefferies Financial Group decreased their target price on Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, July 10th. BTIG Research assumed coverage on Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Upbound Group currently has an average rating of “Moderate Buy” and an average target price of $40.25.

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.