Upbound Group (NASDAQ:UPBD) Reaches New 1-Year High at $36.83

Upbound Group, Inc. (NASDAQ:UPBD) reached a new 52-week high during trading on Friday . The company traded as high as $36.83 and last traded at $36.83, with a volume of 50862 shares. The stock had previously closed at $35.49.

Wall Street Analyst Weigh In

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

Upbound Group Stock Performance

The company has a current ratio of 3.49, a quick ratio of 0.72 and a debt-to-equity ratio of 2.23. The company has a 50-day moving average price of $31.71 and a two-hundred day moving average price of $32.51.

Upbound Group (NASDAQ:UPBD) last released its earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. On average, equities analysts expect that Upbound Group, Inc. will post 3.74 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 18th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.01%. The ex-dividend date was Tuesday, June 18th. Upbound Group’s dividend payout ratio (DPR) is presently -321.74%.

Insider Buying and Selling at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,031 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, with a total value of $30,744.42. Following the transaction, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Upbound Group

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Upbound Group by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 6,005,494 shares of the company’s stock worth $211,453,000 after buying an additional 209,422 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Upbound Group by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,148,331 shares of the company’s stock worth $72,981,000 after buying an additional 62,832 shares during the period. LSV Asset Management lifted its stake in shares of Upbound Group by 43.0% during the 1st quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock worth $59,635,000 after purchasing an additional 509,343 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Upbound Group by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 761,765 shares of the company’s stock worth $23,386,000 after purchasing an additional 15,219 shares during the last quarter. Finally, Huber Capital Management LLC lifted its stake in shares of Upbound Group by 25.2% during the 1st quarter. Huber Capital Management LLC now owns 492,195 shares of the company’s stock worth $17,330,000 after purchasing an additional 99,004 shares during the last quarter. 90.30% of the stock is currently 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.