AlphaQuest LLC Buys 9,189 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

by · The Cerbat Gem

AlphaQuest LLC grew its holdings in Upbound Group, Inc. (NASDAQ:UPBD – Free Report) by 137.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,871 shares of the company’s stock after purchasing an additional 9,189 shares during the period. AlphaQuest LLC’s holdings in Upbound Group were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of UPBD. Kendall Capital Management raised its holdings in shares of Upbound Group by 44.3% in the 4th quarter. Kendall Capital Management now owns 80,950 shares of the company’s stock valued at $2,361,000 after purchasing an additional 24,870 shares in the last quarter. Amundi lifted its stake in shares of Upbound Group by 29.1% during the fourth quarter. Amundi now owns 56,159 shares of the company’s stock worth $1,677,000 after buying an additional 12,657 shares during the period. PNC Financial Services Group Inc. lifted its position in Upbound Group by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock worth $110,000 after acquiring an additional 429 shares during the period. Edgestream Partners L.P. increased its holdings in Upbound Group by 93.5% in the 4th quarter. Edgestream Partners L.P. now owns 63,841 shares of the company’s stock worth $1,862,000 after buying an additional 30,850 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Upbound Group during the fourth quarter valued at $3,922,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UPBD shares. Loop Capital decreased their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Upbound Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

Check Out Our Latest Stock Report on Upbound Group

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,146 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the acquisition, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Fahmi Karam purchased 11,500 shares of the business’s stock in a transaction on Monday, March 10th. The shares were bought at an average price of $25.82 per share, for a total transaction of $296,930.00. Following the acquisition, the chief financial officer now owns 164,672 shares in the company, valued at $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is owned by corporate insiders.

Upbound Group Price Performance

Shares of UPBD stock opened at $23.59 on Friday. The firm’s 50-day moving average is $28.27 and its two-hundred day moving average is $30.17. Upbound Group, Inc. has a 12 month low of $23.35 and a 12 month high of $38.72. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The company has a market capitalization of $1.35 billion, a PE ratio of 10.67 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD – Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Analysts predict that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

About Upbound Group

(Free Report)

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.

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