Upbound Group (NASDAQ:UPBD) Shares Up 4%

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

Analysts Set New Price Targets

Several brokerages have recently commented on UPBD. BTIG Research began coverage on shares of Upbound Group in a report on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group lowered their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Upbound Group Trading Up 3.4 %

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

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.05 billion. During the same period last year, the firm posted $0.83 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts predict that Upbound Group, Inc. will post 3.74 EPS for the current fiscal year.

Upbound Group Dividend Announcement

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

Insider Buying and Selling at Upbound Group

In related news, Director Jeffrey J. Brown bought 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were purchased at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the transaction, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Upbound Group

A number of hedge funds have recently added to or reduced their stakes in UPBD. Vanguard Group Inc. bought a new stake in shares of Upbound Group in the third quarter worth $170,877,000. Raymond James & Associates grew its stake in shares of Upbound Group by 29.6% in the fourth quarter. Raymond James & Associates now owns 74,603 shares of the company’s stock worth $2,534,000 after purchasing an additional 17,042 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of Upbound Group by 26.9% in the fourth quarter. Ritholtz Wealth Management now owns 18,251 shares of the company’s stock worth $620,000 after purchasing an additional 3,870 shares during the last quarter. Saxon Interests Inc. bought a new stake in shares of Upbound Group in the fourth quarter worth $201,000. Finally, Secure Asset Management LLC grew its stake in shares of Upbound Group by 1.2% in the fourth quarter. Secure Asset Management LLC now owns 37,702 shares of the company’s stock worth $1,281,000 after purchasing an additional 457 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

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.