Key Points
- CEO Fahmi Karam bought 4,407 shares for about $100,083, increasing his stake by 1.73%; seven directors and executives collectively purchased approximately $1.34 million of shares.
- Upbound beat quarterly estimates, reporting EPS of $1.01 versus $0.91 expected and revenue of $1.15 billion versus $1.12 billion expected, though revenue fell 1.3% year over year.
- Analysts have an average Hold rating and a $27 price target; the company’s annualized dividend is $1.56 per share, a yield of about 6.3%.
Upbound Group, Inc. (NASDAQ:UPBD - Get Free Report) CEO Fahmi Karam bought 4,407 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were acquired at an average cost of $22.71 per share, for a total transaction of $100,082.97. Following the completion of the acquisition, the chief executive officer directly owned 258,912 shares of the company's stock, valued at approximately $5,879,891.52. This trade represents a 1.73% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Upbound Group Stock Up 3.1%
NASDAQ UPBD opened at $24.88 on Friday. 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 company has a market cap of $1.45 billion, a price-to-earnings ratio of 5.79 and a beta of 1.80. The company has a 50 day moving average of $17.59 and a 200-day moving average of $18.96. Upbound Group, Inc. has a 1-year low of $14.98 and a 1-year high of $25.29.
Upbound Group (NASDAQ:UPBD - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The business 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 firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 earnings per share. On average, equities research analysts expect that Upbound Group, Inc. will post 4.22 earnings per share for the current fiscal year.
Upbound Group Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 27th. Stockholders 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 dividend yield of 6.3%. The ex-dividend date was Tuesday, October 6th. Upbound Group's dividend payout ratio is presently 82.11%.
Upbound Group News Summary
Here are the key news stories impacting Upbound Group this week:
- Positive Sentiment: Seven directors and executives, including CEO Fahmi Karam, bought a combined approximately $1.34 million of UPBD shares on November 2–3, at prices of $22.61–$23.00. The breadth and size of the purchases may bolster investor sentiment, although insider buying does not guarantee future results. CEO SEC filing
- Positive Sentiment: In its latest reported quarter, Upbound earned $1.01 per share, topping the $0.91 analyst consensus, and generated $1.15 billion in revenue, above expectations.
- Neutral Sentiment: UPBD shares have recently moved toward their 12-month high, but the provided reports do not establish that insider purchases caused the move.
- Negative Sentiment: Quarterly revenue declined 1.3% year over year, tempering the earnings beat and suggesting growth remains a concern.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the company. Wall Street Zen cut Upbound Group from a "buy" rating to a "hold" rating in a research report on Saturday, October 24th. BTIG Research downgraded Upbound Group from a "buy" rating to a "neutral" rating and set a $28.00 price objective for the company. in a research report on Friday, July 31st. Weiss Ratings lowered shares of Upbound Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, September 21st. TD Cowen reduced their price target on Upbound Group from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Finally, Zacks Research upgraded Upbound Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $27.00.
View Our Latest Analysis on Upbound Group
Institutional Investors Weigh In On Upbound Group
A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in shares of Upbound Group during the second quarter valued at about $2,504,000. Venture Visionary Partners LLC boosted its position in shares of Upbound Group by 72.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 157,858 shares of the company's stock worth $2,478,000 after purchasing an additional 66,491 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Upbound Group during the 2nd quarter worth about $3,868,000. Sei Investments Co. grew its stake in shares of Upbound Group by 249.0% in the 1st 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 acquired a new stake in shares of Upbound Group in the 2nd quarter valued at about $6,251,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.
Upbound Group Company Profile
(
Get Free Report)
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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