Upbound Group (NASDAQ:UPBD) Director Purchases $50,081.26 in Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Molly Langenstein purchased 2,186 shares of the stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $22.91 per share, with a total value of $50,081.26. Following the acquisition, the director directly owned 2,186 shares in the company, valued at $50,081.26. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Upbound Group Stock Down 2.6%

UPBD opened at $24.24 on Friday. Upbound Group, Inc. has a 1-year low of $14.98 and a 1-year high of $25.29. The business has a 50 day moving average of $17.68 and a 200-day moving average of $18.98. The company has a current ratio of 3.17, a quick ratio of 0.97 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 5.48 and a beta of 1.80.

Upbound Group (NASDAQ:UPBD) last issued its earnings results 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 firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.00 EPS. As a group, sell-side analysts anticipate that Upbound Group, Inc. will post 4.22 earnings per share for the current year.

Upbound Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 27th. Investors of record on Tuesday, October 6th were paid a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, October 6th. This represents a $1.56 dividend on an annualized basis and a yield of 6.4%. Upbound Group’s dividend payout ratio (DPR) is currently 82.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on UPBD. Wall Street Zen lowered Upbound Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. BTIG Research cut 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 report on Friday, July 31st. Zacks Research raised Upbound Group from a “strong sell” rating to a “hold” rating in a research note on Monday, September 28th. TD Cowen cut their price target on shares of Upbound Group from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, October 30th. 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 analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.00.

Hedge Funds Weigh In On Upbound Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc bought a new position in shares of Upbound Group during the 2nd quarter valued at approximately $2,504,000. Venture Visionary Partners LLC increased its position in shares of Upbound Group by 72.8% in the 3rd quarter. Venture Visionary Partners LLC now owns 157,858 shares of the company’s stock valued at $2,478,000 after purchasing an additional 66,491 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Upbound Group during the 2nd quarter worth approximately $3,868,000. Sei Investments Co. lifted its holdings in shares of Upbound Group by 249.0% during the 1st quarter. Sei Investments Co. now owns 244,848 shares of the company’s stock worth $4,419,000 after acquiring an additional 174,682 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Upbound Group during the second quarter worth about $6,251,000. 90.30% of the stock is currently owned by 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.