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

Upbound Group, Inc. (NASDAQ:UPBD)’s stock price reached a new 52-week low 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.

Analyst Ratings Changes

Separately, Loop Capital cut their target price on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Upbound Group Stock Performance

The company has a market cap of $1.26 billion, a P/E ratio of 9.95 and a beta of 2.01. The stock has a 50 day moving average price of $26.60 and a two-hundred day moving average price of $29.31. The company has a quick ratio of 0.86, a current ratio of 3.66 and a debt-to-equity ratio of 2.08.

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

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 22nd. Shareholders of record on Wednesday, April 2nd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date is Wednesday, April 2nd. Upbound Group’s dividend payout ratio is currently 70.59%.

Insiders Place Their Bets

In other news, CFO Fahmi Karam acquired 11,500 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the transaction, 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey J. Brown bought 1,146 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was acquired at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the transaction, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Upbound Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Upbound Group by 37.9% during the fourth quarter. Wellington Management Group LLP now owns 559,120 shares of the company’s stock worth $16,310,000 after buying an additional 153,551 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Upbound Group in the 4th quarter worth about $5,201,000. PharVision Advisers LLC bought a new position in Upbound Group in the fourth quarter valued at about $314,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Upbound Group by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 140,151 shares of the company’s stock valued at $4,088,000 after purchasing an additional 21,568 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in shares of Upbound Group by 101.7% during the fourth quarter. Voloridge Investment Management LLC now owns 147,893 shares of the company’s stock worth $4,314,000 after purchasing an additional 74,565 shares during the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

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.