Insider Buying: Upbound Group, Inc. (NASDAQ:UPBD) Director Acquires $30,744.42 in Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Jeffrey J. Brown bought 1,031 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was acquired at an average price of $29.82 per share, for a total transaction of $30,744.42. Following the completion of the transaction, the director now owns 84,169 shares in the company, valued at $2,509,919.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Upbound Group Stock Performance

Shares of NASDAQ UPBD opened at $31.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 3.49 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -68.13 and a beta of 2.02. The stock’s fifty day simple moving average is $31.55 and its 200 day simple moving average is $32.52. Upbound Group, Inc. has a 52-week low of $25.00 and a 52-week high of $36.17.

Upbound Group (NASDAQ:UPBD) last issued its earnings results on Thursday, May 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Upbound Group had a positive return on equity of 33.40% and a negative net margin of 0.61%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 EPS. As a group, sell-side analysts forecast that Upbound Group, Inc. will post 3.74 earnings per share for the current fiscal year.

Upbound Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Tuesday, June 18th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date of this dividend was Tuesday, June 18th. Upbound Group’s payout ratio is -321.74%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Upbound Group from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday. BTIG Research assumed coverage on Upbound Group in a research report on Friday, June 7th. They set a “buy” rating and a $45.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Upbound Group presently has a consensus rating of “Moderate Buy” and an average target price of $40.17.

Institutional Trading of Upbound Group

Several hedge funds and other institutional investors have recently modified their holdings of UPBD. Headlands Technologies LLC acquired a new stake in shares of Upbound Group in the first quarter worth $29,000. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 1,146 shares during the period. Wetzel Investment Advisors Inc. acquired a new stake in shares of Upbound Group in the fourth quarter worth $68,000. TFO Wealth Partners LLC boosted its position in shares of Upbound Group by 44,716.7% in the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock worth $91,000 after buying an additional 2,683 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Upbound Group in the first quarter worth $112,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Company Profile

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.