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

Key Points

• Upbound Group, Inc. (NASDAQ: UPBD) experienced a dramatic increase in short interest, surging 112,863.0% from June, reaching a total of 3,050,000 shares by July 15th.
• The company's shares dipped by 1.3% to $20.38, with notable trading activity of 916,022 shares during midday trading on Friday.
• Upbound Group recently announced a quarterly dividend of $0.39 per share, resulting in an annualized dividend yield of 7.7%.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 3,050,000 shares, agrowthof112,863.0% from the June 30th total of 2,700 shares. Based on an average daily volume of 563,400 shares, the days-to-cover ratio is currently 5.4 days. Approximately5.9% of the shares of the company are sold short. Approximately5.9% of the shares of the company are sold short. Based on an average daily volume of 563,400 shares, the days-to-cover ratio is currently 5.4 days.

Upbound Group Trading Down 0.1%

Shares of UPBD stock traded down $0.03 on Tuesday, hitting $21.20. 385,327 shares of the company's stock traded hands, compared to its average volume of 574,407. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.83 and a current ratio of 3.11. Upbound Group has a one year low of $19.65 and a one year high of $36.00. The company's fifty day simple moving average is $24.75 and its 200 day simple moving average is $24.95. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 11.90 and a beta of 1.74.

Upbound Group (NASDAQ:UPBD - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. Upbound Group had a return on equity of 36.26% and a net margin of 2.28%. The firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the previous year, the firm earned $1.04 earnings per share. The business's revenue was up 7.5% compared to the same quarter last year. Equities analysts forecast that Upbound Group will post 4.28 EPS for the current year.

Upbound Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Tuesday, June 17th. Upbound Group's dividend payout ratio (DPR) is currently 87.64%.

Insider Activity at Upbound Group

In other news, Director Jeffrey J. Brown purchased 1,653 shares of Upbound Group stock in a transaction that occurred on Tuesday, July 8th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $42,812.70. Following the transaction, the director owned 89,400 shares of the company's stock, valued at approximately $2,315,460. The trade was a 1.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of Upbound Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its stake in shares of Upbound Group by 367.9% in the second quarter. Teacher Retirement System of Texas now owns 67,336 shares of the company's stock worth $1,690,000 after acquiring an additional 52,944 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Upbound Group in the second quarter worth approximately $1,057,000. Nisa Investment Advisors LLC boosted its holdings in shares of Upbound Group by 5.5% in the second quarter. Nisa Investment Advisors LLC now owns 12,183 shares of the company's stock worth $311,000 after buying an additional 638 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of Upbound Group in the second quarter worth approximately $247,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Upbound Group in the second quarter worth approximately $2,194,000. 90.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial reiterated an "outperform" rating and set a $35.00 price target (down previously from $40.00) on shares of Upbound Group in a report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.50.

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.