Vestcor Inc Acquires Shares of 5,973 Upbound Group, Inc. (NASDAQ:UPBD)

Vestcor Inc acquired a new stake in shares of Upbound Group, Inc. (NASDAQ:UPBD) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 5,973 shares of the company’s stock, valued at approximately $174,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. R Squared Ltd bought a new stake in Upbound Group in the 4th quarter valued at $25,000. Blue Trust Inc. increased its holdings in shares of Upbound Group by 45.0% in the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock worth $73,000 after purchasing an additional 705 shares during the last quarter. Quarry LP increased its holdings in shares of Upbound Group by 374.3% in the third quarter. Quarry LP now owns 3,282 shares of the company’s stock worth $105,000 after purchasing an additional 2,590 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock worth $110,000 after buying an additional 429 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Upbound Group during the third quarter valued at approximately $229,000. Institutional investors own 90.30% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

UPBD has been the topic of several recent research reports. Loop Capital decreased their price objective on Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Two equities research 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Upbound Group Price Performance

Shares of Upbound Group stock opened at $24.18 on Wednesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 10.94 and a beta of 2.01. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.86 and a current ratio of 3.66. The stock has a 50 day moving average price of $27.99 and a 200-day moving average price of $29.93. Upbound Group, Inc. has a one year low of $23.35 and a one year high of $38.72.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. Equities analysts expect that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Company 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.