Insider Buying: Upbound Group, Inc. (NASDAQ:UPBD) Director Buys 1,065 Shares of Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Jeffrey J. Brown bought 1,065 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the purchase, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Upbound Group Stock Performance

Shares of UPBD stock traded down $0.53 on Thursday, hitting $27.09. 339,472 shares of the stock traded hands, compared to its average volume of 451,569. The company’s fifty day moving average is $30.84 and its 200 day moving average is $31.65. Upbound Group, Inc. has a 1-year low of $25.00 and a 1-year high of $38.72. The company has a market capitalization of $1.48 billion, a PE ratio of 27.82 and a beta of 2.00. The company has a debt-to-equity ratio of 2.21, a current ratio of 3.96 and a quick ratio of 0.84.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, August 1st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts predict that Upbound Group, Inc. will post 3.67 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Tuesday, October 1st. Upbound Group’s dividend payout ratio (DPR) is 151.02%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Loop Capital restated a “hold” rating and set a $36.00 price objective on shares of Upbound Group in a research note on Friday, September 13th. Jefferies Financial Group decreased their price target on shares of Upbound Group from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Institutional Trading of Upbound Group

A number of large investors have recently modified their holdings of UPBD. Headlands Technologies LLC acquired a new stake in shares of Upbound Group in the first quarter valued at approximately $29,000. Blue Trust Inc. raised its stake in Upbound Group by 47.9% during the 2nd quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after acquiring an additional 362 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Upbound Group during the 2nd quarter worth $42,000. Allspring Global Investments Holdings LLC grew its stake in shares of Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Upbound Group during the second quarter valued at approximately $89,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Upbound Group

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.