Upbound Group (NASDAQ:UPBD) Hits New 1-Year High After Insider Buying Activity

Shares of Upbound Group, Inc. (NASDAQ:UPBD) reached a new 52-week high on Wednesday after an insider bought additional shares in the company. The stock traded as high as $24.02 and last traded at $23.86, with a volume of 433,038 shares trading hands. The stock had previously closed at $22.46.

Specifically, Director Molly Langenstein purchased 2,186 shares of the firm’s stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $22.91 per share, for a total transaction of $50,081.26. Following the purchase, the director owned 2,186 shares of the company’s stock, valued at $50,081.26. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey Brown purchased 17,645 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were acquired at an average price of $22.67 per share, with a total value of $400,012.15. Following the purchase, the director directly owned 116,543 shares in the company, valued at $2,642,029.81. This represents a 17.84% increase in their position. The SEC filing for this purchase provides additional information. In other Upbound Group news, EVP Balaji Kumar acquired 2,200 shares of the stock in a transaction on Monday, November 2nd. The shares were purchased at an average price of $22.77 per share, for a total transaction of $50,094.00. Following the completion of the acquisition, the executive vice president owned 16,949 shares in the company, valued at approximately $385,928.73. This represents a 14.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

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

Upbound Group Price Performance

The company has a market capitalization of $1.41 billion, a P/E ratio of 12.76 and a beta of 1.80. The business’s 50-day moving average is $17.59 and its two-hundred day moving average is $18.96. 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 (NASDAQ:UPBD) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.10. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts predict that Upbound Group, Inc. will post 4.22 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 27th. Investors of record on Tuesday, October 6th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date was Tuesday, October 6th. Upbound Group’s dividend payout ratio (DPR) is 82.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Upbound Group in the second quarter valued at about $194,216,000. Dimensional Fund Advisors LP increased its stake in shares of Upbound Group by 15.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,394,770 shares of the company’s stock worth $43,227,000 after purchasing an additional 327,203 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Upbound Group during the 2nd quarter worth approximately $37,565,000. Bank of New York Mellon Corp bought a new stake in shares of Upbound Group in the 2nd quarter worth approximately $18,862,000. Finally, Pacer Advisors Inc. bought a new stake in shares of Upbound Group in the 1st quarter worth approximately $7,455,000. Hedge funds and other 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.