Upbound Group (NASDAQ:UPBD) Sets New 52-Week Low – What’s Next?

Upbound Group, Inc. (NASDAQ:UPBD)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.77 and last traded at $22.01, with a volume of 260232 shares. The stock had previously closed at $24.26.

Analyst Upgrades and Downgrades

Separately, Loop Capital cut their price target on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.00.

Upbound Group Stock Up 0.3 %

The firm’s 50-day moving average is $26.60 and its two-hundred day moving average is $29.31. 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 market cap of $1.26 billion, a P/E ratio of 9.95 and a beta of 2.01.

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

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.56 annualized dividend and a dividend yield of 7.10%. Upbound Group’s payout ratio is currently 70.59%.

Insider Activity at Upbound Group

In other news, CFO Fahmi Karam bought 11,500 shares of the stock in a transaction on Monday, March 10th. The stock was 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 of the company’s stock, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. 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 Upbound Group stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Upbound Group

A number of hedge funds have recently modified their holdings of UPBD. New York State Teachers Retirement System raised its stake in shares of Upbound Group by 0.4% in the 4th quarter. New York State Teachers Retirement System now owns 80,938 shares of the company’s stock valued at $2,361,000 after purchasing an additional 360 shares during the period. PNC Financial Services Group Inc. raised its position in Upbound Group by 12.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company’s stock valued at $110,000 after buying an additional 429 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Upbound Group by 2.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 26,498 shares of the company’s stock valued at $773,000 after acquiring an additional 616 shares in the last quarter. Blue Trust Inc. lifted its stake in Upbound Group by 45.0% in the 4th quarter. Blue Trust Inc. now owns 2,271 shares of the company’s stock valued at $73,000 after acquiring an additional 705 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Upbound Group by 6.3% during the 4th quarter. Inspire Investing LLC now owns 13,798 shares of the company’s stock worth $402,000 after acquiring an additional 818 shares in 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.