Kendall Capital Management Buys 24,870 Shares of Upbound Group, Inc. (NASDAQ:UPBD)

Kendall Capital Management boosted its stake in Upbound Group, Inc. (NASDAQ:UPBD) by 44.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,950 shares of the company’s stock after purchasing an additional 24,870 shares during the quarter. Kendall Capital Management owned about 0.15% of Upbound Group worth $2,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in UPBD. Amalgamated Bank increased its holdings in Upbound Group by 3.5% in the third quarter. Amalgamated Bank now owns 14,491 shares of the company’s stock valued at $464,000 after purchasing an additional 496 shares during the last quarter. Summit Global Investments bought a new stake in shares of Upbound Group in the third quarter worth about $1,216,000. Covestor Ltd increased its holdings in shares of Upbound Group by 268.8% in the third quarter. Covestor Ltd now owns 1,136 shares of the company’s stock worth $37,000 after acquiring an additional 828 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Upbound Group by 153.0% in the third quarter. Victory Capital Management Inc. now owns 98,421 shares of the company’s stock worth $3,148,000 after acquiring an additional 59,526 shares in the last quarter. Finally, MQS Management LLC increased its holdings in shares of Upbound Group by 23.3% in the third quarter. MQS Management LLC now owns 11,805 shares of the company’s stock worth $378,000 after acquiring an additional 2,234 shares in the last quarter. Institutional investors own 90.30% of the company’s stock.

Upbound Group Stock Up 4.1 %

UPBD stock opened at $25.81 on Friday. The business has a 50-day moving average of $28.61 and a 200-day moving average of $30.36. Upbound Group, Inc. has a fifty-two week low of $24.15 and a fifty-two week 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 stock has a market capitalization of $1.48 billion, a P/E ratio of 11.68 and a beta of 2.01.

Upbound Group (NASDAQ:UPBD) last issued its quarterly earnings results on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. On average, sell-side analysts anticipate that Upbound Group, Inc. will post 4.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on UPBD. TD Cowen upgraded Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital reduced their price objective on Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Finally, Stephens initiated coverage on Upbound Group in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

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 on Tuesday, January 7th. The shares were purchased at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the purchase, the director now directly owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.

About Upbound Group

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.