Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) CEO Fahmi Karam bought 4,407 shares of the firm’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $22.71 per share, with a total value of $100,082.97. Following the completion of the purchase, the chief executive officer directly owned 258,912 shares of the company’s stock, valued at $5,879,891.52. This represents a 1.73% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Upbound Group Price Performance
Shares of UPBD opened at $24.88 on Friday. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 5.79 and a beta of 1.80. Upbound Group, Inc. has a 1-year low of $14.98 and a 1-year high of $25.29. The company’s fifty day simple moving average is $17.59 and its 200 day simple moving average is $18.96. The company has a current ratio of 3.17, a quick ratio of 0.97 and a debt-to-equity ratio of 1.80.
Upbound Group (NASDAQ:UPBD – Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share (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 in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts forecast that Upbound Group, Inc. will post 4.22 earnings per share for the current fiscal year.
Upbound Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 27th. Stockholders of record on Tuesday, October 6th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, October 6th. Upbound Group’s dividend payout ratio is presently 82.11%.
Key Headlines Impacting Upbound Group
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.
Institutional Trading of Upbound Group
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Upbound Group during the second quarter worth $194,216,000. Ieq Capital LLC bought a new stake in shares of Upbound Group in the second quarter valued at about $37,565,000. Bank of New York Mellon Corp bought a new stake in shares of Upbound Group in the second quarter valued at about $18,862,000. Pacer Advisors Inc. acquired a new position in shares of Upbound Group in the first quarter valued at about $7,455,000. Finally, One Way Holdings LLC acquired a new position in shares of Upbound Group in the third quarter valued at about $5,610,000. Institutional investors and hedge funds own 90.30% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently commented on UPBD. Wall Street Zen cut Upbound Group from a “buy” rating to a “hold” rating in a report on Saturday, October 24th. TD Cowen dropped their price objective on Upbound Group from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Zacks Research raised Upbound Group from a “strong sell” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings cut Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. Finally, BTIG Research downgraded 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. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.
Check Out Our Latest Analysis on UPBD
About Upbound Group
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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