Upbound Group (NASDAQ:UPBD) Director Jeffrey Brown Purchases 2,764 Shares of Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Jeffrey Brown purchased 2,764 shares of Upbound Group stock in a transaction on Tuesday, October 27th. The shares were acquired at an average cost of $17.01 per share, with a total value of $47,015.64. Following the completion of the transaction, the director directly owned 98,898 shares in the company, valued at $1,682,254.98. The trade was a 2.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Upbound Group Stock Performance

NASDAQ UPBD traded up $3.07 on Thursday, reaching $19.98. 3,152,848 shares of the company’s stock traded hands, compared to its average volume of 920,466. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 12.97 and a beta of 1.78. The stock has a 50 day moving average price of $17.18 and a 200-day moving average price of $18.87. Upbound Group, Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $23.98. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 3.22.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.10. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.12 billion. Upbound Group had a return on equity of 34.53% and a net margin of 1.90%. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. Equities research analysts predict that Upbound Group, Inc. will post 4.20 EPS for the current fiscal year.

Upbound Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Tuesday, October 6th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 7.8%. The ex-dividend date was Tuesday, October 6th. Upbound Group’s dividend payout ratio is currently 101.30%.

Institutional Trading of Upbound Group

Large investors have recently made changes to their positions in the company. Vise Technologies Inc. acquired a new position in Upbound Group in the 3rd quarter valued at $172,000. Summit Global Investments grew its stake in Upbound Group by 5.3% during the 3rd quarter. Summit Global Investments now owns 38,648 shares of the company’s stock valued at $607,000 after acquiring an additional 1,948 shares in the last quarter. State of Wyoming purchased a new stake in Upbound Group during the 3rd quarter valued at about $231,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Upbound Group by 11.7% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 20,000 shares of the company’s stock valued at $314,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Signaturefd LLC raised its holdings 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 during the last quarter. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UPBD has been the subject of several recent research reports. TD Cowen cut their target price on shares of Upbound Group from $28.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Zacks Research upgraded Upbound Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings downgraded Upbound Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, September 21st. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, BTIG Research lowered Upbound Group from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research report on Friday, July 31st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.50.

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.