Upbound Group (NASDAQ:UPBD) Shares Down 6.3%

Upbound Group, Inc. (NASDAQ:UPBD) shares dropped 6.3% during mid-day trading on Thursday . The stock traded as low as $29.14 and last traded at $29.63. Approximately 172,185 shares traded hands during trading, a decline of 55% from the average daily volume of 379,569 shares. The stock had previously closed at $31.62.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Upbound Group in a research note on Friday, March 8th. They set an “outperform” rating and a $43.00 target price for the company. KeyCorp boosted their price objective on Upbound Group from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $38.17.

Upbound Group Trading Up 1.3 %

The company’s 50 day moving average price is $32.84 and its two-hundred day moving average price is $31.88. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.12 and a quick ratio of 0.65.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Upbound Group had a negative net margin of 0.61% and a positive return on equity of 33.40%. Upbound Group’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 EPS. On average, research analysts anticipate that Upbound Group, Inc. will post 3.76 earnings per share for the current year.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Wednesday, April 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date was Tuesday, April 2nd. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Insider Buying and Selling at Upbound Group

In other news, EVP Anthony J. Blasquez sold 12,485 shares of Upbound Group stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $33.18, for a total transaction of $414,252.30. Following the transaction, the executive vice president now owns 58,967 shares in the company, valued at approximately $1,956,525.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Anthony J. Blasquez sold 12,485 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.18, for a total transaction of $414,252.30. Following the completion of the sale, the executive vice president now owns 58,967 shares in the company, valued at approximately $1,956,525.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey J. Brown acquired 991 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $30.68 per share, for a total transaction of $30,403.88. Following the completion of the acquisition, the director now directly owns 83,138 shares of the company’s stock, valued at approximately $2,550,673.84. The disclosure for this purchase can be found here. 2.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upbound Group

Several large investors have recently modified their holdings of the business. Wolff Wiese Magana LLC purchased a new stake in Upbound Group in the 3rd quarter valued at about $29,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Upbound Group in the 3rd quarter valued at approximately $32,000. Clearstead Advisors LLC acquired a new position in shares of Upbound Group in the 3rd quarter worth approximately $38,000. Bramshill Investments LLC purchased a new position in shares of Upbound Group during the 3rd quarter worth approximately $43,000. Finally, CWM LLC acquired a new stake in Upbound Group in the 3rd quarter valued at approximately $45,000. 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.