Six Upbound insiders buy $1.2 million of its shares
Six Upbound directors and officers bought $1.2 million of its shares with their own money on November 2 and 3, as filed on November 4.
The purchases
6 insiders
Open-market purchases on Nov 2 and Nov 3, filed on Nov 4
6
Buyers
$1.29M
Bought
0
Sellers
Director
JB
Jeffrey J Brown
Buy · $447.03k · 20,409 shares
+85.6%
GM
Glenn P Marino
Buy · $393.41k · 17,400 shares
ML
Molly Langenstein
Buy · $50.08k · 2,186 shares
Chief financial officer
HK
Halim Khouri
Buy · $250.58k · 11,000 shares
+10.6%
Other executive
RW
Rebecca Wooters
Buy · $99.48k · 4,325 shares
+24.1%
BK
Balaji Kumar
Buy · $50.09k · 2,200 shares
+14.9%
On the right, by how much each one increased the number of shares they own. Purchases declared to the SEC, the US stock market watchdog (Form 4), decided on the spot and not scheduled in advance.
AI analysis
Nov 4
Why it is interesting
Six insiders bought with their own money
Directors Jeffrey Brown, Molly Langenstein and Glenn Marino, and officers Halim Khouri (chief financial officer), Balaji Kumar and Rebecca Wooters bought on the open market, $1.2 million in all. These are shares they paid for, not pay.
Large next to what they already held
The purchases raised Wooters's holding by 24.1%, Brown's by 17.8%, Kumar's by 14.9% and the chief financial officer's by 10.6%. Several insiders buying within days weighs more than one.
The context
Bought just after the results
On October 29, Upbound reported third-quarter earnings of $1.01 a share against $0.92 expected. The stock closed at $16.91 on October 28 and $19.98 on October 29; the insiders bought on November 2 and 3.
Bought near the 52-week high
Insiders paid $22.61 to $23 a share, close to the 52-week closing high of $22.84, after a 32.8% climb since October 28. Buying after a jump is less of a bargain than buying after a fall.
Brown's earlier buys were automatic
On October 27, Brown's purchases of 2,217 and 547 shares came from dividend reinvestment in brokerage accounts. The filing says so: they were not a fresh decision.
What it does not say
An average, not a guarantee
Studies found that insider purchases earned more than 6% a year above the market on average, mostly in smaller companies, with no guarantee. An insider can be wrong, and a purchase does not say when the price will move.
Reaction not yet known
The filings became public on November 4. The latest close I read is $22.46 on November 3, so how the stock reacted to the purchases is not yet known.
Analysis written by an AI from public data. It is not investment advice.