Upbound Group (NASDAQ:UPBD) Stock: Insider Molly Langenstein Purchases 2,186 Shares

Key Points

• Insiders bought shares: Director Molly Langenstein purchased 2,186 shares for about $50,081 at $22.91 each. Six insiders made purchases on November 2–3, totaling approximately $1.24 million.
• Quarterly results beat estimates: Upbound reported EPS of $1.01 versus the $0.91 consensus and revenue of $1.15 billion versus $1.12 billion expected, though revenue fell 1.3% year over year.
• Shares and analyst outlook: The stock rose 7.5% to $24.14; analysts’ average rating was Hold, with an average price target of $27. The company’s quarterly dividend of $0.39 equates to a 6.5% yield at the price cited.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) Director Molly Langenstein bought 2,186 shares of Upbound Group stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average cost of $22.91 per share, for a total transaction of $50,081.26. Following the acquisition, the director owned 2,186 shares of the company's stock, valued at $50,081.26. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Upbound Group Stock Up 7.5%

UPBD traded up $1.68 on Wednesday, reaching $24.14. The company's stock had a trading volume of 1,834,246 shares, compared to its average volume of 944,464. 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, Inc. has a fifty-two week low of $14.98 and a fifty-two week high of $24.30. The stock has a 50 day moving average of $17.38 and a two-hundred day moving average of $18.91.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.91 by $0.10. Upbound Group had a return on equity of 33.81% and a net margin of 2.36%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm's revenue was down 1.3% compared to the same quarter last year. As a group, analysts forecast that Upbound Group, Inc. will post 4.22 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company also recently announced 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. This represents a $1.56 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date was Tuesday, October 6th. Upbound Group's payout ratio is presently 82.11%.

Key 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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. BTIG Research lowered shares of Upbound Group from a "buy" rating to a "neutral" rating and set a $28.00 price target for the company. in a research report on Friday, July 31st. Weiss Ratings cut shares of Upbound Group from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, September 21st. Wall Street Zen cut Upbound Group from a "buy" rating to a "hold" rating in a research report on Saturday, October 24th. 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 decreased their target price on Upbound Group from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, October 30th. 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 company currently has an average rating of "Hold" and an average price target of $27.00.

Institutional Investors Weigh In On Upbound Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in shares of Upbound Group by 299.3% during the second quarter. IFP Advisors Inc now owns 1,214 shares of the company's stock worth $26,000 after buying an additional 910 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Upbound Group in the 2nd quarter valued at approximately $46,000. Signaturefd LLC raised its stake in Upbound Group by 74.5% during the third 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 bought a new position in Upbound Group during the 2nd quarter valued at about $50,000. Finally, PNC Financial Services Group Inc. boosted 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 worth $67,000 after acquiring an additional 1,226 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

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.

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