Landscape Capital Management L.L.C. Lowers Stake in Upbound Group, Inc. (NASDAQ:UPBD)

by · The Cerbat Gem

Landscape Capital Management L.L.C. decreased its position in Upbound Group, Inc. (NASDAQ:UPBD – Free Report) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,605 shares of the company’s stock after selling 9,858 shares during the quarter. Landscape Capital Management L.L.C. owned 0.18% of Upbound Group worth $3,154,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings 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 buying an additional 362 shares during the period. Covestor Ltd lifted its position in shares of Upbound Group by 268.8% during the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after purchasing an additional 828 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Upbound Group during the 2nd quarter worth approximately $42,000. Ashton Thomas Private Wealth LLC purchased a new position in Upbound Group in the 2nd quarter valued at approximately $89,000. Finally, SG Americas Securities LLC acquired a new position in shares of Upbound Group in the first quarter worth $112,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Upbound Group

In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 owns 14,651 shares of the company’s stock, valued at approximately $498,134. This trade represents a 50.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown acquired 1,065 shares of Upbound Group stock in a transaction dated Tuesday, October 22nd. The stock was bought at an average price of $29.25 per share, for a total transaction of $31,151.25. Following the completion of the transaction, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 1.27 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UPBD. Stephens initiated coverage on Upbound Group in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $38.00 price objective on the stock. Loop Capital cut their target price on shares of Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Finally, Jefferies Financial Group decreased their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.17.

Check Out Our Latest Research Report on Upbound Group

Upbound Group Stock Performance

NASDAQ:UPBD opened at $32.11 on Thursday. Upbound Group, Inc. has a 1-year low of $26.50 and a 1-year high of $38.72. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 22.14 and a beta of 2.01. 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 firm’s fifty day moving average price is $30.27 and its 200 day moving average price is $31.54.

Upbound Group (NASDAQ:UPBD – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Upbound Group had a net margin of 1.91% and a return on equity of 34.15%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. On average, sell-side analysts expect that Upbound Group, Inc. will post 3.79 EPS for the current year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.61%. Upbound Group’s dividend payout ratio is presently 102.07%.

Upbound Group Profile

(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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