Recent Insider Activity Could Benefit Upbound Group Inc (UPBD)

In a filing, Upbound Group Inc revealed its EVP, Acima Montrone Ralph T. unloaded Company’s shares for reported $1.0 million on Feb 28 ’24. In the deal valued at $33.48 per share,30,000 shares were sold. As a result of this transaction, Montrone Ralph T. now holds 55,074 shares worth roughly $1.85 million.

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Then, BROWN JEFFREY J bought 912 shares, generating $30,041 in total proceeds. Upon buying the shares at $32.94, the Director now owns 82,147 shares.

Before that, BROWN JEFFREY J bought 988 shares. Upbound Group Inc shares valued at $27,279 were divested by the Director at a price of $27.61 per share. As a result of the transaction, BROWN JEFFREY J now holds 81,235 shares, worth roughly $2.73 million.

TD Cowen initiated its Upbound Group Inc [UPBD] rating to an Outperform in a research note published on March 08, 2024; the price target was $43. A number of analysts have revised their coverage, including Stephens’s analysts, who increased its forecast for the stock in early January from “an Equal-weight” to “an Overweight”.

Price Performance Review of UPBD

On Tuesday, Upbound Group Inc [NASDAQ:UPBD] saw its stock jump 1.24% to $33.59. Over the last five days, the stock has gained 0.42%. Upbound Group Inc shares have fallen nearly -1.12% since the year began. Nevertheless, the stocks have risen 30.09% over the past one year. While a 52-week high of $36.17 was reached on 01/26/24, a 52-week low of $22.42 was recorded on 02/22/24. SMA at 50 days reached $33.25, while 200 days put it at $31.36. A total of 0.3 million shares were traded, compared to the trading of 0.3 million shares in the previous session.

Levels Of Support And Resistance For UPBD Stock

The 24-hour chart illustrates a support level at 33.07, which if violated will result in even more drops to 32.54. On the upside, there is a resistance level at 33.91. A further resistance level may holdings at 34.24. The Relative Strength Index (RSI) on the 14-day chart is 52.71, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.48%. Stochastics %K at 71.63% indicates the stock is a holding.

How much short interest is there in Upbound Group Inc?

A steep rise in short interest was recorded in Upbound Group Inc stocks on Feb 29, 2024, dropping by -0.11 million shares to a total of 1.94 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 2.05 million shares. There was a decline of -5.67%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.19% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.44.

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