Upbound Group (NASDAQ:UPBD) Shares Gap Down to $31.99

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $31.99, but opened at $31.14. Upbound Group shares last traded at $30.44, with a volume of 42,069 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on UPBD shares. Loop Capital reissued a "hold" rating and issued a $36.00 price target on shares of Upbound Group in a report on Friday, September 13th. Jefferies Financial Group decreased their price target on shares of Upbound Group from $37.00 to $35.00 and set a "hold" rating for the company in a research report on Tuesday. Finally, BTIG Research initiated coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a "buy" rating and a $45.00 price target for the company. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.00.

Upbound Group Price Performance

The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. The company has a fifty day moving average price of $32.43 and a 200 day moving average price of $32.20. The company has a market capitalization of $1.63 billion, a P/E ratio of -64.54 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.01. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.03 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. The firm's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.11 EPS. On average, sell-side analysts forecast that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 1st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Tuesday, October 1st. Upbound Group's payout ratio is -321.74%.

Insiders Place Their Bets

In other news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares of the company's stock, valued at $498,134. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now owns 14,651 shares of the company's stock, valued at $498,134. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey J. Brown acquired 1,031 shares of the business's stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the purchase, the director now owns 84,169 shares of the company's stock, valued at $2,509,919.58. The disclosure for this purchase can be found here. 2.70% of the stock is owned by insiders.

Institutional Trading of Upbound Group

A number of institutional investors have recently made changes to their positions in UPBD. Sanctuary Advisors LLC bought a new stake in Upbound Group during the second quarter worth approximately $257,000. Aristides Capital LLC acquired a new position in shares of Upbound Group during the 2nd quarter valued at $213,000. The Manufacturers Life Insurance Company raised its stake in shares of Upbound Group by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,123 shares of the company's stock worth $802,000 after buying an additional 1,317 shares in the last quarter. Caxton Associates LP acquired a new stake in shares of Upbound Group in the second quarter valued at $956,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Upbound Group by 4,547.0% during the second quarter. Cubist Systematic Strategies LLC now owns 70,681 shares of the company's stock valued at $2,170,000 after buying an additional 69,160 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

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.