Upbound Group (NASDAQ:UPBD) Sees Large Volume Increase

Upbound Group, Inc. (NASDAQ:UPBD) saw unusually-strong trading volume on Thursday . Approximately 1,330,621 shares changed hands during mid-day trading, an increase of 208% from the previous session’s volume of 431,752 shares.The stock last traded at $31.19 and had previously closed at $30.69.

Wall Street Analyst Weigh In

UPBD has been the subject of several analyst reports. Loop Capital reissued a “hold” rating and set a $36.00 target price on shares of Upbound Group in a research note on Friday, September 13th. BTIG Research initiated coverage on Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Jefferies Financial Group reduced their target price on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.40.

Upbound Group Price Performance

The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -66.73 and a beta of 2.00. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. The stock has a fifty day moving average of $32.63 and a 200-day moving average of $32.32.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. Upbound Group’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. On average, equities research analysts predict that Upbound Group, Inc. will post 3.81 EPS for the current fiscal year.

Insider Transactions at Upbound Group

In other Upbound Group news, Director Jeffrey J. Brown acquired 1,031 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were bought at an average cost 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 in the company, valued at approximately $2,509,919.58. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jeffrey J. Brown bought 1,031 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average price of $29.82 per share, with a total value of $30,744.42. Following the completion of the acquisition, the director now owns 84,169 shares in the company, valued at approximately $2,509,919.58. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Transient C. Taylor sold 15,127 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at approximately $498,134. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Upbound Group by 47.9% in the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Upbound Group by 4.7% in the first quarter. ProShare Advisors LLC now owns 10,592 shares of the company’s stock valued at $373,000 after buying an additional 477 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Upbound Group by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 22,500 shares of the company’s stock worth $691,000 after acquiring an additional 500 shares during the period. Texas Permanent School Fund Corp raised its position in Upbound Group by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 38,965 shares of the company’s stock worth $1,372,000 after acquiring an additional 522 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Upbound Group in the first quarter valued at $29,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

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.