Upbound Group (NASDAQ:UPBD) Stock: Insider Molly Langenstein Acquires 2,186 Shares

Upbound Group, Inc. (NASDAQ:UPBD) Director Molly Langenstein acquired 2,186 shares of Upbound Group stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average cost of $22.91 per share, for a total transaction of $50,081.26. Following the purchase, the director directly owned 2,186 shares of the company’s stock, valued at approximately $50,081.26. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Upbound Group Stock Up 3.1%

Shares of NASDAQ UPBD opened at $24.88 on Friday. Upbound Group, Inc. has a 1 year low of $14.98 and a 1 year high of $25.29. The firm’s 50 day moving average price is $17.59 and its 200 day moving average price is $18.96. The firm has a market cap of $1.45 billion, a P/E ratio of 5.79 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.97 and a current ratio of 3.17.

Upbound Group (NASDAQ:UPBD) last released its 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 firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. Upbound Group’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. As a group, sell-side analysts anticipate that Upbound Group, Inc. will post 4.22 earnings per share for the current year.

Upbound Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 6.3%. Upbound Group’s dividend payout ratio (DPR) is 82.11%.

Analysts Set New Price Targets

Several research firms recently commented on UPBD. BTIG Research lowered Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Friday, July 31st. Weiss Ratings downgraded Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, September 21st. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. TD Cowen lowered their price target 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Upbound Group presently has an average rating of “Hold” and an average price target of $27.00.

Upbound Group News Roundup

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.

Hedge Funds Weigh In On Upbound Group

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in shares of Upbound Group in the 2nd quarter valued at $2,504,000. Venture Visionary Partners LLC grew its stake in shares of Upbound Group by 72.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 157,858 shares of the company’s stock valued at $2,478,000 after buying an additional 66,491 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Upbound Group during the 2nd quarter valued at $3,868,000. Sei Investments Co. increased its holdings in shares of Upbound Group by 249.0% during the 1st quarter. Sei Investments Co. now owns 244,848 shares of the company’s stock worth $4,419,000 after buying an additional 174,682 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Upbound Group during the 2nd quarter worth $6,251,000. 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.