Upbound Group, Inc. (NASDAQ:UPBD – Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 2,360,000 shares, a growth of 18.0% from the September 30th total of 2,000,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average trading volume of 587,400 shares, the short-interest ratio is currently 4.0 days.
Insider Buying and Selling
In related news, EVP Transient C. Taylor sold 15,127 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total transaction of $514,318.00. Following the sale, the executive vice president now owns 14,651 shares of the company’s stock, valued at $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Upbound Group news, EVP Transient C. Taylor sold 15,127 shares of Upbound Group stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $34.00, for a total value of $514,318.00. Following the completion of the transaction, the executive vice president now directly owns 14,651 shares of the company’s stock, valued at approximately $498,134. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey J. Brown bought 1,065 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was purchased at an average cost of $29.25 per share, with a total value of $31,151.25. Following the completion of the acquisition, the director now directly owns 85,234 shares of the company’s stock, valued at approximately $2,493,094.50. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Upbound Group
A number of large investors have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in Upbound Group in the 1st quarter valued at about $29,000. Blue Trust Inc. raised its stake in shares of Upbound Group by 47.9% during the second quarter. Blue Trust Inc. now owns 1,118 shares of the company’s stock valued at $34,000 after purchasing an additional 362 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Upbound Group during the second quarter valued at about $42,000. Allspring Global Investments Holdings LLC raised its position in Upbound Group by 232.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,640 shares of the company’s stock worth $58,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Upbound Group in the 2nd quarter worth about $89,000. Hedge funds and other institutional investors own 90.30% of the company’s stock.
Wall Street Analyst Weigh In
Get Our Latest Research Report on Upbound Group
Upbound Group Stock Down 1.3 %
Shares of NASDAQ:UPBD opened at $26.73 on Wednesday. The stock has a market cap of $1.46 billion, a P/E ratio of 27.35 and a beta of 2.00. Upbound Group has a 52-week low of $25.17 and a 52-week high of $38.72. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21. The business’s 50 day moving average is $30.57 and its 200 day moving average is $31.52.
Upbound Group (NASDAQ:UPBD – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Upbound Group had a net margin of 1.31% and a return on equity of 32.94%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business earned $1.11 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Sell-side analysts predict that Upbound Group will post 3.67 EPS for the current year.
Upbound Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 1st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend was Tuesday, October 1st. Upbound Group’s payout ratio is 151.02%.
Upbound Group Company Profile
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.
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