Upbound Group (NASDAQ:UPBD) Stock: Insider Fahmi Karam Buys 4,407 Shares

Upbound Group, Inc. (NASDAQ:UPBD) CEO Fahmi Karam purchased 4,407 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was acquired at an average cost of $22.71 per share, with a total value of $100,082.97. Following the completion of the acquisition, the chief executive officer directly owned 258,912 shares in the company, valued at $5,879,891.52. The trade was a 1.73% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Upbound Group Stock Down 2.6%

UPBD stock opened at $24.24 on Friday. The stock’s 50 day simple moving average is $17.68 and its 200 day simple moving average is $18.98. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.97 and a current ratio of 3.17. The company has a market cap of $1.41 billion, a P/E ratio of 5.48 and a beta of 1.80. Upbound Group, Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $25.29.

Upbound Group (NASDAQ:UPBD) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.91 by $0.10. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $1.00 earnings per share. Upbound Group’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, research analysts expect that Upbound Group, Inc. will post 4.22 earnings per share for the current fiscal year.

Upbound Group Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Maryland State Retirement & Pension System acquired a new position in shares of Upbound Group during the 3rd quarter worth about $190,000. Hohimer Wealth Management LLC bought a new position in Upbound Group during the third quarter worth $158,000. One Way Holdings LLC acquired a new stake in Upbound Group in the third quarter valued at approximately $5,610,000. Vise Technologies Inc. bought a new stake in shares of Upbound Group in the 3rd quarter worth approximately $172,000. Finally, Summit Global Investments raised its holdings in Upbound Group by 5.3% during the third 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 during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Analysts Set New Price Targets

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

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.