Upbound Group (NASDAQ:UPBD) Sets New 12-Month High on Insider Buying Activity

Shares of Upbound Group, Inc. (NASDAQ:UPBD) reached a new 52-week high on Wednesday following insider buying activity. The company traded as high as $24.02 and last traded at $23.86, with a volume of 433,038 shares changing hands. The stock had previously closed at $22.46.

Specifically, Director Molly Langenstein acquired 2,186 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were bought at an average cost of $22.91 per share, with a total value of $50,081.26. Following the purchase, the director directly owned 2,186 shares of the company’s stock, valued at $50,081.26. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey Brown bought 17,645 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were acquired at an average price of $22.67 per share, for a total transaction of $400,012.15. Following the transaction, the director owned 116,543 shares in the company, valued at $2,642,029.81. This represents a 17.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other Upbound Group news, EVP Balaji Kumar bought 2,200 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were bought at an average price of $22.77 per share, for a total transaction of $50,094.00. Following the transaction, the executive vice president directly owned 16,949 shares in the company, valued at approximately $385,928.73. This trade represents a 14.92% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

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

Upbound Group Stock Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.97 and a current ratio of 3.17. The company has a 50 day moving average price of $17.59 and a 200 day moving average price of $18.96. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.76 and a beta of 1.80.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, October 29th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the company posted $1.00 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Tuesday, October 6th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Tuesday, October 6th. Upbound Group’s dividend payout ratio (DPR) is 82.11%.

Institutional Investors Weigh In On Upbound Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Upbound Group by 299.3% during the second quarter. IFP Advisors Inc now owns 1,214 shares of the company’s stock worth $26,000 after acquiring an additional 910 shares in the last quarter. Quantbot Technologies LP bought a new position in Upbound Group in the 2nd quarter valued at about $46,000. Signaturefd LLC lifted its position in Upbound Group by 74.5% in the 3rd quarter. Signaturefd LLC now owns 3,050 shares of the company’s stock valued at $48,000 after acquiring an additional 1,302 shares in the last quarter. Allworth Financial LP acquired a new position in Upbound Group during the 2nd quarter valued at about $50,000. Finally, PNC Financial Services Group Inc. boosted its stake in Upbound Group by 49.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,685 shares of the company’s stock valued at $67,000 after purchasing an additional 1,226 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.

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.