Upbound Group, Inc. (NASDAQ:UPBD) Short Interest Update

by · The Cerbat Gem

Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,360,000 shares, a growth of 18.0% from the September 30th total of 2,000,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily volume of 587,400 shares, the short-interest ratio is currently 4.0 days.

Upbound Group Stock Performance

NASDAQ:UPBD traded down $0.35 during trading hours on Tuesday, reaching $26.73. The company had a trading volume of 278,819 shares, compared to its average volume of 450,571. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84. Upbound Group has a 1-year low of $25.17 and a 1-year high of $38.72. The business’s 50 day moving average price is $30.57 and its 200-day moving average price is $31.52. The firm has a market cap of $1.46 billion, a PE ratio of 27.35 and a beta of 2.00.

Upbound Group (NASDAQ:UPBD – Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $1.11 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Research analysts forecast that Upbound Group will post 3.67 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.54%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s payout ratio is currently 151.02%.

Insider Buying and Selling at Upbound Group

In related news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Transient C. Taylor sold 15,127 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the completion of the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ralph T. Montrone sold 15,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $32.48, for a total value of $487,200.00. Following the transaction, the executive vice president now directly owns 40,074 shares in the company, valued at approximately $1,301,603.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Upbound Group

Several institutional investors and hedge funds have recently modified their holdings of UPBD. New York State Teachers Retirement System grew its holdings in Upbound Group by 0.5% in the third quarter. New York State Teachers Retirement System now owns 80,578 shares of the company’s stock valued at $2,578,000 after purchasing an additional 393 shares during the period. Trajan Wealth LLC purchased a new position in shares of Upbound Group during the 3rd quarter valued at approximately $200,000. State of Alaska Department of Revenue grew its stake in Upbound Group by 5.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 27,773 shares of the company’s stock valued at $888,000 after acquiring an additional 1,472 shares during the period. Louisiana State Employees Retirement System increased its holdings in Upbound Group by 4.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the company’s stock worth $752,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Upbound Group by 40.1% during the third quarter. Blue Trust Inc. now owns 1,566 shares of the company’s stock worth $48,000 after acquiring an additional 448 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on UPBD shares. Loop Capital restated a “hold” rating and issued a $36.00 price objective on shares of Upbound Group in a research note on Friday, September 13th. Jefferies Financial Group dropped their price objective on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Get Our Latest Analysis on Upbound Group

Upbound Group Company Profile

(Get Free Report)

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.

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