Upbound Group (NASDAQ:UPBD) Reaches New 52-Week Low – Should You Sell?

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 changing hands. The stock had previously closed at $24.26.

Wall Street Analysts Forecast Growth

Separately, Loop Capital cut their target price 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.

Upbound Group Price Performance

The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.91 and a beta of 2.01. The business’s fifty day simple moving average is $26.90 and its 200 day simple moving average is $29.42. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, February 20th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. On average, research analysts forecast that Upbound Group, Inc. will post 4.28 EPS for the current year.

Upbound Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Stockholders of record on Wednesday, April 2nd will be paid 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 7.12%. Upbound Group’s payout ratio is 70.59%.

Insider Activity at Upbound Group

In related news, CFO Fahmi Karam purchased 11,500 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the chief financial officer now directly owns 164,672 shares of the company’s stock, valued at approximately $4,251,831.04. The trade was a 7.51 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey J. Brown acquired 1,146 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were bought at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the purchase, the director now owns 86,380 shares in the company, valued at $2,505,883.80. This trade represents a 1.34 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Upbound Group

A number of institutional investors and hedge funds have recently modified their holdings of UPBD. Wellington Management Group LLP increased its holdings in Upbound Group by 2,864.5% during the 3rd quarter. Wellington Management Group LLP now owns 405,569 shares of the company’s stock worth $12,974,000 after acquiring an additional 391,888 shares during the period. Kennedy Capital Management LLC bought a new position in Upbound Group in the 4th quarter worth about $10,214,000. Marshall Wace LLP raised its holdings in shares of Upbound Group by 333.9% in the 4th quarter. Marshall Wace LLP now owns 350,949 shares of the company’s stock valued at $10,237,000 after acquiring an additional 270,064 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Upbound Group in the fourth quarter valued at approximately $5,201,000. Finally, Victory Capital Management Inc. lifted its position in Upbound Group by 171.9% in the 4th quarter. Victory Capital Management Inc. now owns 267,618 shares of the company’s stock worth $7,806,000 after buying an additional 169,197 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.