Upbound Group (NASDAQ:UPBD) Shares Up 9.2% on Strong Earnings

Upbound Group, Inc. (NASDAQ:UPBD)’s stock price shot up 9.2% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $29.76 and last traded at $29.56. 99,380 shares were traded during trading, a decline of 78% from the average session volume of 448,387 shares. The stock had previously closed at $27.08.

The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. Upbound Group had a return on equity of 32.94% and a net margin of 1.31%. Upbound Group’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 EPS.

Upbound Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Investors of record on Tuesday, October 1st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a yield of 5.02%. Upbound Group’s dividend payout ratio (DPR) is presently 151.02%.

Analyst Ratings Changes

A number of research analysts have commented on UPBD shares. Loop Capital decreased their price objective on Upbound Group from $36.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday. Jefferies Financial Group dropped their price objective on Upbound Group from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.40.

Insider Buying and Selling at Upbound Group

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 stock was sold at an average price of $34.00, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jeffrey J. Brown bought 1,065 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average price of $29.25 per share, with a total value of $31,151.25. Following the completion of the transaction, the director now owns 85,234 shares in the company, valued at $2,493,094.50. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the executive vice president now directly owns 14,651 shares in the company, valued at approximately $498,134. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Upbound Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ieq Capital LLC grew its holdings in Upbound Group by 112.7% during the second quarter. Ieq Capital LLC now owns 4,827,021 shares of the company’s stock worth $148,190,000 after purchasing an additional 2,557,906 shares during the period. LSV Asset Management grew its holdings in Upbound Group by 43.0% during the first quarter. LSV Asset Management now owns 1,693,695 shares of the company’s stock worth $59,635,000 after purchasing an additional 509,343 shares during the period. Marshall Wace LLP boosted its holdings in shares of Upbound Group by 1,903.6% during the second quarter. Marshall Wace LLP now owns 395,888 shares of the company’s stock worth $12,154,000 after acquiring an additional 376,129 shares during the period. SG Capital Management LLC bought a new stake in shares of Upbound Group during the first quarter worth approximately $12,198,000. Finally, Huber Capital Management LLC boosted its holdings in shares of Upbound Group by 51.4% during the second quarter. Huber Capital Management LLC now owns 745,299 shares of the company’s stock worth $22,881,000 after acquiring an additional 253,104 shares during the period. Institutional investors and hedge funds own 90.30% of the company’s stock.

Upbound Group Trading Up 0.8 %

The company has a market cap of $1.61 billion, a P/E ratio of 30.06 and a beta of 2.00. The business has a fifty day moving average price of $30.25 and a 200-day moving average price of $31.43. The company has a quick ratio of 0.84, a current ratio of 3.96 and a debt-to-equity ratio of 2.21.

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.