Upbound Group (NASDAQ:UPBD) Stock: Insider Scott Young Purchases 6,015 Shares

Key Points

• EVP Scott Young bought 6,015 Upbound Group shares at an average price of $24.95, investing about $150,074; the purchase was disclosed in an SEC filing.
• Upbound reported quarterly EPS of $1.01, topping the $0.91 consensus, and revenue of $1.15 billion versus estimates of $1.12 billion. Revenue was down 1.3% year over year.
• The company’s quarterly dividend is $0.39 per share, equivalent to a 6.3% annual yield. Analysts’ consensus rating is Hold, with an average price target of $27.

Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) EVP Scott Young purchased 6,015 shares of the stock in a transaction dated Monday, November 9th. The stock was bought at an average cost of $24.95 per share, with a total value of $150,074.25. Following the transaction, the executive vice president owned 6,015 shares in the company, valued at $150,074.25. The trade was a ∞ 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 Stock Down 0.1%

Upbound Group stock traded down $0.02 during mid-day trading on Tuesday, reaching $24.66. The stock had a trading volume of 1,449,671 shares, compared to its average volume of 954,607. Upbound Group, Inc. has a one year low of $14.98 and a one year high of $25.29. The company has a 50-day moving average price of $17.79 and a two-hundred day moving average price of $19.01. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.98 and a beta of 1.80. The company has a debt-to-equity ratio of 1.80, a current ratio of 3.17 and a quick ratio of 0.97.

Upbound Group (NASDAQ:UPBD - Get Free Report) last released 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. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.12 billion. Upbound Group had a net margin of 2.36% and a return on equity of 33.81%. Upbound Group's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. On average, analysts expect that Upbound Group, Inc. will post 4.22 EPS for the current fiscal year.

Upbound Group Announces Dividend

The company 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. This represents a $1.56 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date was Tuesday, October 6th. Upbound Group's payout ratio is presently 82.11%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Upbound Group in the 2nd quarter worth approximately $2,504,000. Venture Visionary Partners LLC boosted its holdings in shares of Upbound Group by 72.8% in the third quarter. Venture Visionary Partners LLC now owns 157,858 shares of the company's stock worth $2,478,000 after buying an additional 66,491 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Upbound Group during the second quarter valued at approximately $3,868,000. Sei Investments Co. grew its position in Upbound Group by 249.0% during the first quarter. Sei Investments Co. now owns 244,848 shares of the company's stock valued at $4,419,000 after buying an additional 174,682 shares during the period. Finally, Bank of America Corp DE bought a new stake in Upbound Group during the second quarter valued at approximately $6,251,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

UPBD has been the topic of several analyst reports. BTIG Research cut Upbound Group from a "buy" rating to a "neutral" rating and set a $28.00 price objective on the stock. in a research report on Friday, July 31st. Wall Street Zen lowered Upbound Group from a "buy" rating to a "hold" rating in a report on Saturday, October 24th. TD Cowen decreased their price target 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. Zacks Research raised Upbound Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. Finally, Weiss Ratings cut Upbound Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $27.00.

About Upbound Group

Upbound Group, Inc. provides lease-to-own and retail services through brands including Rent-A-Center and Acima. Its offerings let customers obtain merchandise through flexible payment arrangements, with the option to own items after completing the required payments. The company's products include furniture, appliances, electronics, computers and smartphones. Rent-A-Center serves customers through company-operated stores and franchise locations, while Acima provides lease-to-own options through participating retail partners and online channels.

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