Insider Buying: Upbound Group (NASDAQ:UPBD) Director Buys $393,414.00 in Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Glenn Marino acquired 17,400 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were bought at an average cost of $22.61 per share, for a total transaction of $393,414.00. Following the acquisition, the director owned 17,400 shares of the company’s stock, valued at $393,414. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Upbound Group Stock Up 7.5%

Shares of NASDAQ:UPBD traded up $1.68 during trading on Wednesday, hitting $24.14. 1,834,245 shares of the company were exchanged, compared to its average volume of 944,464. The stock has a market capitalization of $1.41 billion, a P/E ratio of 12.71 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.17 and a quick ratio of 0.97. Upbound Group, Inc. has a 12-month low of $14.98 and a 12-month high of $24.30. The firm’s 50 day moving average price is $17.38 and its 200-day moving average price is $18.91.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the business earned $1.00 EPS. Upbound Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, research analysts predict that Upbound Group, Inc. will post 4.22 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 27th. Stockholders of record on Tuesday, October 6th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.5%. Upbound Group’s payout ratio is 82.11%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. TD Cowen reduced their price objective on Upbound Group from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, October 30th. BTIG Research downgraded Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 price objective for the company. in a report on Friday, July 31st. Weiss Ratings lowered shares of Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. Finally, Zacks Research raised shares of Upbound Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Upbound Group presently has an average rating of “Hold” and an average price target of $27.00.

Key Upbound Group News

Here are the key news stories impacting Upbound Group this week:

• Positive Sentiment: Six insiders bought shares on November 2–3: directors Molly Langenstein, Jeffrey Brown and Glenn P. Marino, and EVPs Balaji Kumar, Rebecca Wooters and Halim Khouri. Their purchases totaled about $1.24 million; several increased their individual holdings by double-digit percentages. SEC filing SEC filing SEC filing SEC filing SEC filing SEC filing
• Positive Sentiment: Zacks described UPBD as a potential long-term growth stock based on its Style Scores, offering a favorable characterization, though the article entry provides no specific forecasts or new company results. Zacks article
• Negative Sentiment: A recent report said Upbound’s consensus price target fell 22.36% to MX$410.79, signaling weaker analyst expectations; the cited figure is in Mexican pesos. Price target report

Hedge Funds Weigh In On Upbound Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Upbound Group in the 2nd quarter valued at about $194,216,000. Ieq Capital LLC acquired a new stake in Upbound Group during the 2nd quarter worth approximately $37,565,000. Bank of New York Mellon Corp acquired a new stake in Upbound Group during the 2nd quarter worth approximately $18,862,000. Pacer Advisors Inc. purchased a new position in shares of Upbound Group in the 1st quarter valued at approximately $7,455,000. Finally, One Way Holdings LLC purchased a new position in shares of Upbound Group in the 3rd quarter valued at approximately $5,610,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.

Upbound Group Company Profile

Upbound Group, Inc is a provider of consumer leasing and retail solutions, operating primarily through its Rent-A-Center and Acima brands. The company enables customers to obtain merchandise through flexible lease-to-own agreements and related payment options, serving consumers who may prefer alternatives to traditional retail financing.

Its Rent-A-Center business operates company-owned and franchised locations, as well as digital channels, offering furniture, appliances, electronics, computers, smartphones and other household goods.