Upbound Group (NASDAQ:UPBD) Reaches New 52-Week Low - Here's Why

Shares of Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $20.19 and last traded at $20.58, with a volume of 759164 shares. The stock had previously closed at $21.96.

Wall Street Analyst Weigh In

Separately, Loop Capital cut their price target on Upbound Group from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Upbound Group Stock Down 0.5 %

The business's 50 day simple moving average is $25.47 and its 200-day simple moving average is $28.84. 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 company has a market cap of $1.20 billion, a price-to-earnings ratio of 9.43 and a beta of 1.90.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) 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 firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.06 billion. Sell-side analysts expect that Upbound Group, Inc. will post 4.28 earnings per share for the current year.

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Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors 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 7.48%. Upbound Group's dividend payout ratio is presently 70.59%.

Insider Activity at Upbound Group

In related news, CFO Fahmi Karam purchased 11,500 shares of Upbound Group stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $25.82 per share, with a total value of $296,930.00. Following the acquisition, the chief financial officer now directly owns 164,672 shares in the company, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upbound Group

Institutional investors have recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in shares of Upbound Group in the 4th quarter worth approximately $25,000. Blue Trust Inc. raised its stake in shares of Upbound Group by 45.0% in the fourth quarter. Blue Trust Inc. now owns 2,271 shares of the company's stock valued at $73,000 after purchasing an additional 705 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Upbound Group by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,785 shares of the company's stock worth $110,000 after purchasing an additional 429 shares during the period. Vestcor Inc acquired a new stake in Upbound Group during the fourth quarter worth $174,000. Finally, Freestone Grove Partners LP bought a new stake in Upbound Group in the 4th quarter valued at $221,000. 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.