Upbound Group (NASDAQ:UPBD) Stock Price Up 8.1% – What’s Next?

Shares of Upbound Group, Inc. (NASDAQ:UPBD) rose 8.1% during mid-day trading on Monday. The stock traded as high as $22.40 and last traded at $22.3750. 220,106 shares traded hands during trading, a decline of 76% from the average daily volume of 926,410 shares. The stock had previously closed at $20.70.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UPBD. Weiss Ratings lowered Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. BTIG Research downgraded shares of Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Friday, July 31st. Wall Street Zen cut Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Zacks Research upgraded shares of Upbound Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, TD Cowen cut their price objective on Upbound Group from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Upbound Group Stock Up 10.3%

The stock has a market cap of $1.33 billion, a PE ratio of 12.02 and a beta of 1.79. The business has a 50 day simple moving average of $17.23 and a 200 day simple moving average of $18.88. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.22 and a quick ratio of 0.97.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The firm’s revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that Upbound Group, Inc. will post 4.22 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 27th. Investors of record on Tuesday, October 6th were paid a $0.39 dividend. The ex-dividend date was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 6.8%. Upbound Group’s dividend payout ratio (DPR) is presently 82.11%.

Insider Transactions at Upbound Group

In other news, EVP Anthony J. Blasquez sold 10,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $18.85, for a total transaction of $188,500.00. Following the transaction, the executive vice president owned 43,717 shares in the company, valued at approximately $824,065.45. The trade was a 18.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey J. Brown purchased 2,764 shares of the business’s stock in a transaction on Tuesday, October 27th. The stock was purchased at an average cost of $17.01 per share, with a total value of $47,015.64. Following the acquisition, the director owned 98,898 shares in the company, valued at approximately $1,682,254.98. This represents a 2.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.20% of the company’s stock.

Institutional Trading of Upbound Group

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of Upbound Group in the 2nd quarter worth $2,504,000. Venture Visionary Partners LLC lifted its stake in Upbound Group by 72.8% in the third quarter. Venture Visionary Partners LLC now owns 157,858 shares of the company’s stock valued at $2,478,000 after buying an additional 66,491 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Upbound Group in the 2nd quarter worth $3,868,000. Sei Investments Co. raised its position in Upbound Group by 249.0% in the 1st quarter. Sei Investments Co. now owns 244,848 shares of the company’s stock valued at $4,419,000 after buying an additional 174,682 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Upbound Group in the second quarter valued at approximately $6,251,000. 90.30% of the stock is currently owned by institutional investors.

About Upbound Group

Upbound Group, Inc is a provider of consumer leasing and retail solutions, operating primarily through its Rent-A-Center and Acima brands. The company enables customers to obtain merchandise through flexible lease-to-own agreements and related payment options, serving consumers who may prefer alternatives to traditional retail financing.

Its Rent-A-Center business operates company-owned and franchised locations, as well as digital channels, offering furniture, appliances, electronics, computers, smartphones and other household goods.