Upbound Group (NASDAQ:UPBD) CEO Fahmi Karam Acquires 12,165 Shares of Company Stock

Key Points

• CEO Fahmi Karam bought 12,165 Upbound Group shares at an average price of $24.66, spending about $300,000. The purchase increased his direct holdings by 4.7% to 271,077 shares; he also bought 4,407 shares earlier that week.
• Upbound beat quarterly earnings and revenue expectations, reporting EPS of $1.01 versus the $0.91 consensus and revenue of $1.15 billion. Revenue was down 1.3% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $27. The company’s quarterly dividend annualizes to $1.56 per share, a reported yield of 6.3%.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) CEO Fahmi Karam acquired 12,165 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was acquired at an average price of $24.66 per share, with a total value of $299,988.90. Following the completion of the transaction, the chief executive officer directly owned 271,077 shares of the company's stock, valued at $6,684,758.82. This trade represents a 4.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Fahmi Karam also recently made the following trade(s):

• On Tuesday, November 3rd, Fahmi Karam bought 4,407 shares of Upbound Group stock. The stock was acquired at an average price of $22.71 per share, for a total transaction of $100,082.97.

Upbound Group Trading Up 1.8%

NASDAQ:UPBD traded up $0.44 on Monday, reaching $24.68. The company's stock had a trading volume of 1,450,925 shares, compared to its average volume of 952,273. Upbound Group, Inc. has a 12-month low of $14.98 and a 12-month high of $25.29. The stock has a 50 day moving average price of $17.68 and a 200 day moving average price of $18.98. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 12.99 and a beta of 1.80. The company has a quick ratio of 0.95, a current ratio of 3.17 and a debt-to-equity ratio of 1.80.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share 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 analysts' expectations of $1.12 billion. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The company's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 EPS. On average, equities analysts anticipate that Upbound Group, Inc. will post 4.22 EPS for the current fiscal year.

Upbound Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Tuesday, October 6th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.3%. Upbound Group's dividend payout ratio (DPR) is currently 82.11%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Upbound Group

Several large investors have recently added to or reduced their stakes in UPBD. BlackRock Inc. acquired a new position in shares of Upbound Group in the second quarter worth $194,216,000. Dimensional Fund Advisors LP raised its stake in shares of Upbound Group by 15.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,394,770 shares of the company's stock valued at $43,227,000 after acquiring an additional 327,203 shares in the last quarter. Ieq Capital LLC acquired a new stake in shares of Upbound Group in the second quarter valued at $37,565,000. Bank of New York Mellon Corp purchased a new position in Upbound Group in the second quarter valued at $18,862,000. Finally, Pacer Advisors Inc. purchased a new position in Upbound Group in the first quarter valued at $7,455,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.