Upbound Group (NASDAQ:UPBD) Stock: Insider Glenn Marino Acquires 17,400 Shares

Key Points

• Director Glenn Marino bought 17,400 Upbound shares at an average of $22.61, investing about $393,000; six insiders collectively purchased roughly $1.24 million in shares on November 2–3.
• Upbound beat quarterly expectations, reporting EPS of $1.01 versus $0.91 forecast and revenue of $1.15 billion versus $1.12 billion expected, although revenue declined 1.3% year over year.
• The stock rose 7.5% to $24.14 in Wednesday trading. Analysts’ consensus rating was Hold, with a $27 average price target; the company’s annualized dividend yield was 6.5%.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) Director Glenn Marino purchased 17,400 shares of Upbound Group stock in a transaction dated Monday, November 2nd. The stock was bought at an average cost of $22.61 per share, for a total transaction of $393,414.00. Following the completion of the purchase, the director directly owned 17,400 shares in the company, valued at approximately $393,414. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Upbound Group Trading Up 7.5%

NASDAQ:UPBD traded up $1.68 during trading hours on Wednesday, reaching $24.14. 1,834,245 shares of the stock were exchanged, compared to its average volume of 944,464. Upbound Group, Inc. has a twelve month low of $14.98 and a twelve month high of $24.30. The business has a 50-day moving average of $17.38 and a two-hundred day moving average of $18.91. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.71 and a beta of 1.80. The company has a quick ratio of 0.97, a current ratio of 3.17 and a debt-to-equity ratio of 1.80.

Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.10. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. On average, equities analysts predict that Upbound Group, Inc. will post 4.22 EPS for the current year.

Upbound Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 27th. Investors of record on Tuesday, October 6th were issued a $0.39 dividend. The ex-dividend date was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.5%. Upbound Group's payout ratio is 82.11%.

Institutional Investors Weigh In On Upbound Group

Hedge funds and other institutional investors have recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Upbound Group by 299.3% in the second quarter. IFP Advisors Inc now owns 1,214 shares of the company's stock valued at $26,000 after buying an additional 910 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Upbound Group during the 2nd quarter worth about $46,000. Signaturefd LLC boosted its position in shares of Upbound Group by 74.5% during the 3rd quarter. Signaturefd LLC now owns 3,050 shares of the company's stock worth $48,000 after acquiring an additional 1,302 shares in the last quarter. Allworth Financial LP acquired a new position in shares of Upbound Group during the 2nd quarter worth about $50,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Upbound Group by 49.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,685 shares of the company's stock valued at $67,000 after acquiring an additional 1,226 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

More Upbound Group News

Here are the key news stories impacting Upbound Group this week:

• Positive Sentiment: Six insiders bought shares on November 2–3: directors Molly Langenstein, Jeffrey Brown and Glenn P. Marino, and EVPs Balaji Kumar, Rebecca Wooters and Halim Khouri. Their purchases totaled about $1.24 million; several increased their individual holdings by double-digit percentages. SEC filing SEC filing SEC filing SEC filing SEC filing SEC filing
• Positive Sentiment: Zacks described UPBD as a potential long-term growth stock based on its Style Scores, offering a favorable characterization, though the article entry provides no specific forecasts or new company results. Zacks article
• Negative Sentiment: A recent report said Upbound’s consensus price target fell 22.36% to MX$410.79, signaling weaker analyst expectations; the cited figure is in Mexican pesos. Price target report

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.

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.