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

Key Points

• Director Jeffrey Brown purchased 2,764 Upbound Group shares at an average price of $17.01, investing approximately $47,016 and increasing his ownership by 2.88% to 98,898 shares.
• Upbound Group reported quarterly adjusted results above expectations, with EPS of $1.01 versus the $0.91 consensus and revenue of $1.15 billion versus $1.12 billion expected; revenue nevertheless declined 1.3% year over year.
• The stock traded at $19.98, while analysts maintained a consensus “Hold” rating with an average price target of $27.50. The company’s quarterly dividend implies a 7.8% yield, though its payout ratio is above 100%.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) Director Jeffrey Brown acquired 2,764 shares of Upbound Group stock in a transaction on Tuesday, October 27th. The stock was purchased at an average cost of $17.01 per share, for a total transaction of $47,015.64. Following the purchase, the director owned 98,898 shares in the company, valued at approximately $1,682,254.98. The trade was a 2.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Upbound Group Price Performance

Shares of NASDAQ UPBD traded up $3.07 during midday trading on Thursday, reaching $19.98. 3,152,848 shares of the stock traded hands, compared to its average volume of 920,466. Upbound Group, Inc. has a one year low of $14.98 and a one year high of $23.98. The stock has a market capitalization of $1.16 billion, a PE ratio of 12.97 and a beta of 1.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 3.22 and a quick ratio of 0.97. The company's 50 day moving average is $17.18 and its 200 day moving average is $18.87.

Upbound Group (NASDAQ:UPBD - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.12 billion. Upbound Group had a net margin of 1.90% and a return on equity of 34.53%. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. On average, equities research analysts anticipate that Upbound Group, Inc. will post 4.20 earnings per share for the current year.

Upbound Group Dividend Announcement

The firm 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 of this dividend was Tuesday, October 6th. Upbound Group's dividend payout ratio is 101.30%.

Institutional Investors Weigh In On Upbound Group

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Upbound Group by 18.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,360 shares of the company's stock worth $71,000 after acquiring an additional 518 shares during the last quarter. IFP Advisors Inc grew its stake in Upbound Group by 299.3% during the 2nd quarter. IFP Advisors Inc now owns 1,214 shares of the company's stock valued at $26,000 after purchasing an additional 910 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Upbound Group by 49.9% in the first quarter. PNC Financial Services Group Inc. now owns 3,685 shares of the company's stock valued at $67,000 after purchasing an additional 1,226 shares during the period. Signaturefd LLC increased its holdings in shares of Upbound Group by 74.5% in the third quarter. Signaturefd LLC now owns 3,050 shares of the company's stock valued at $48,000 after purchasing an additional 1,302 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Upbound Group by 223.5% in the second quarter. Allworth Financial LP now owns 2,352 shares of the company's stock valued at $50,000 after purchasing an additional 1,625 shares during the period. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on UPBD shares. 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 cut shares of Upbound Group from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. BTIG Research downgraded 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. Zacks Research raised shares of Upbound Group from a "strong sell" rating to a "hold" rating in a research note on Monday, September 28th. Finally, TD Cowen lowered their price target on Upbound Group from $28.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Upbound Group has a consensus rating of "Hold" and an average price target of $27.50.

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.

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