Upbound Group (NASDAQ:UPBD) Stock: Insider Glenn Marino Purchases 17,400 Shares

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

Upbound Group Price Performance

Shares of Upbound Group stock opened at $24.88 on Friday. Upbound Group, Inc. has a twelve month low of $14.98 and a twelve month high of $25.29. The stock has a market capitalization of $1.45 billion, a P/E ratio of 5.79 and a beta of 1.80. The company has a current ratio of 3.17, a quick ratio of 0.97 and a debt-to-equity ratio of 1.80. The business’s fifty day moving average price is $17.59 and its 200 day moving average price is $18.96.

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. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 earnings per share. As a group, research analysts anticipate that Upbound Group, Inc. will post 4.22 earnings per share for the current 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 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 6.3%. Upbound Group’s payout ratio is presently 82.11%.

Analyst Upgrades and Downgrades

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

A number of hedge funds and other institutional investors have recently modified their holdings of UPBD. IFP Advisors Inc boosted its position in shares of Upbound Group by 299.3% in the second quarter. IFP Advisors Inc now owns 1,214 shares of the company’s stock worth $26,000 after buying an additional 910 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Upbound Group in the second quarter valued at about $46,000. Signaturefd LLC grew its stake in shares of Upbound Group by 74.5% in the third quarter. Signaturefd LLC now owns 3,050 shares of the company’s stock valued at $48,000 after buying an additional 1,302 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Upbound Group during the 2nd quarter valued at about $50,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of 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 buying an additional 1,226 shares during the period. Institutional investors and hedge funds 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.