Upbound Group (NASDAQ:UPBD) Shares Up 4%

Upbound Group, Inc. (NASDAQ:UPBD) shares rose 4% on Wednesday . The company traded as high as $34.78 and last traded at $34.72. Approximately 57,102 shares changed hands during trading, a decline of 85% from the average daily volume of 386,983 shares. The stock had previously closed at $33.38.

Analysts Set New Price Targets

UPBD has been the topic of a number of research reports. BTIG Research initiated coverage on shares of Upbound Group in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group cut their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.17.

Upbound Group Stock Performance

The company has a debt-to-equity ratio of 2.23, a quick ratio of 0.72 and a current ratio of 3.49. The firm’s 50 day moving average is $31.71 and its 200 day moving average is $32.51.

Upbound Group (NASDAQ:UPBD) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. Upbound Group had a negative net margin of 0.61% and a positive return on equity of 33.40%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. Upbound Group’s quarterly revenue was up 7.9% on a year-over-year basis. Research analysts anticipate that Upbound Group, Inc. will post 3.74 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were issued a $0.37 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $1.48 annualized dividend and a yield of 4.17%. Upbound Group’s dividend payout ratio (DPR) is presently -321.74%.

Insiders Place Their Bets

In other news, Director Jeffrey J. Brown bought 1,031 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was acquired at an average cost of $29.82 per share, with a total value of $30,744.42. Following the completion of the acquisition, the director now owns 84,169 shares of the company’s stock, valued at $2,509,919.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Upbound Group in the first quarter worth about $29,000. Blue Trust Inc. raised its holdings in shares of Upbound Group by 47.9% during the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Upbound Group by 232.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after purchasing an additional 1,146 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in shares of Upbound Group during the fourth quarter valued at approximately $68,000. Finally, TFO Wealth Partners LLC raised its holdings in shares of Upbound Group by 44,716.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock valued at $91,000 after purchasing an additional 2,683 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.