Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) EVP Balaji Kumar purchased 2,200 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $22.77 per share, with a total value of $50,094.00. Following the purchase, the executive vice president directly owned 16,949 shares of the company’s stock, valued at $385,928.73. The trade was a 14.92% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Upbound Group Trading Up 3.1%
NASDAQ UPBD opened at $24.88 on Friday. The company has a quick ratio of 0.97, a current ratio of 3.17 and a debt-to-equity ratio of 1.80. Upbound Group, Inc. has a 52 week low of $14.98 and a 52 week high of $25.29. The stock has a market capitalization of $1.45 billion, a PE ratio of 5.79 and a beta of 1.80. The firm has a 50 day moving average of $17.59 and a two-hundred day moving average of $18.96.
Upbound Group (NASDAQ:UPBD – Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. As a group, research analysts expect that Upbound Group, Inc. will post 4.22 EPS for the current fiscal year.
Upbound Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 27th. Investors of record on Tuesday, October 6th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend was Tuesday, October 6th. Upbound Group’s dividend payout ratio is 82.11%.
Upbound Group News Roundup
Here are the key news stories impacting Upbound Group this week:
- Positive Sentiment: Seven directors and executives, including CEO Fahmi Karam, bought a combined approximately $1.34 million of UPBD shares on November 2–3, at prices of $22.61–$23.00. The breadth and size of the purchases may bolster investor sentiment, although insider buying does not guarantee future results. CEO SEC filing
- Positive Sentiment: In its latest reported quarter, Upbound earned $1.01 per share, topping the $0.91 analyst consensus, and generated $1.15 billion in revenue, above expectations.
- Neutral Sentiment: UPBD shares have recently moved toward their 12-month high, but the provided reports do not establish that insider purchases caused the move.
- Negative Sentiment: Quarterly revenue declined 1.3% year over year, tempering the earnings beat and suggesting growth remains a concern.
Analyst Ratings Changes
UPBD has been the subject of a number of recent analyst reports. TD Cowen decreased their price target on Upbound Group from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 30th. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Weiss Ratings cut Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. BTIG Research cut Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Friday, July 31st. Finally, Zacks Research raised Upbound Group from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.00.
View Our Latest Research Report on Upbound Group
Institutional Investors Weigh In On Upbound Group
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Maryland State Retirement & Pension System acquired a new position in Upbound Group during the third quarter worth approximately $190,000. Hohimer Wealth Management LLC acquired a new stake in shares of Upbound Group in the third quarter valued at approximately $158,000. One Way Holdings LLC acquired a new stake in shares of Upbound Group in the third quarter valued at approximately $5,610,000. Vise Technologies Inc. purchased a new position in shares of Upbound Group during the third quarter worth approximately $172,000. Finally, Summit Global Investments grew its position in shares of Upbound Group by 5.3% during the third quarter. Summit Global Investments now owns 38,648 shares of the company’s stock worth $607,000 after acquiring an additional 1,948 shares during the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.
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.
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