Jeffrey J. Brown Acquires 1,031 Shares of Upbound Group, Inc. (NASDAQ:UPBD) Stock

Upbound Group, Inc. (NASDAQ:UPBD) Director Jeffrey J. Brown bought 1,031 shares of the stock in a transaction dated Tuesday, July 9th. The shares were bought at an average cost of $29.82 per share, with a total value of $30,744.42. Following the completion of the purchase, the director now directly owns 84,169 shares of the company’s stock, valued at approximately $2,509,919.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Upbound Group Stock Up 4.6 %

Upbound Group stock traded up $1.36 during trading hours on Thursday, reaching $31.07. The stock had a trading volume of 523,462 shares, compared to its average volume of 380,420. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -64.59 and a beta of 2.02. The company has a debt-to-equity ratio of 2.23, a current ratio of 3.49 and a quick ratio of 0.72. The business’s 50 day moving average price is $31.53 and its 200-day moving average price is $32.56. Upbound Group, Inc. has a 52 week low of $25.00 and a 52 week high of $36.17.

Upbound Group (NASDAQ:UPBD) last announced its earnings results on Thursday, May 2nd. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. Upbound Group had a negative net margin of 0.61% and a positive return on equity of 33.40%. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Upbound Group, Inc. will post 3.75 EPS for the current year.

Upbound Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Stockholders of record on Tuesday, June 18th were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, June 18th. This represents a $1.48 annualized dividend and a dividend yield of 4.76%. Upbound Group’s dividend payout ratio (DPR) is currently -321.74%.

Hedge Funds Weigh In On Upbound Group

Hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new position in shares of Upbound Group during the first quarter valued at about $29,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Upbound Group by 232.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock valued at $58,000 after acquiring an additional 1,146 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Upbound Group during the fourth quarter valued at about $68,000. TFO Wealth Partners LLC increased its holdings in shares of Upbound Group by 44,716.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,689 shares of the company’s stock valued at $91,000 after acquiring an additional 2,683 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Upbound Group in the 1st quarter worth approximately $112,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Analyst Ratings Changes

UPBD has been the subject of a number of research reports. Jefferies Financial Group lowered their price objective on shares of Upbound Group from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday. BTIG Research initiated coverage on shares of Upbound Group in a research note on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.17.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.