Quarry LP Has $74,000 Stock Position in PROG Holdings, Inc. (NYSE:PRG)

Quarry LP raised its position in PROG Holdings, Inc. (NYSE:PRG) by 162.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,517 shares of the company’s stock after buying an additional 940 shares during the period. Quarry LP’s holdings in PROG were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRG. Point72 DIFC Ltd raised its stake in shares of PROG by 268.2% in the third quarter. Point72 DIFC Ltd now owns 4,985 shares of the company’s stock valued at $242,000 after acquiring an additional 3,631 shares during the last quarter. Atom Investors LP acquired a new stake in PROG during the 3rd quarter valued at $4,979,000. Point72 Asia Singapore Pte. Ltd. raised its position in PROG by 300.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,173 shares of the company’s stock valued at $493,000 after purchasing an additional 7,630 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in PROG by 2,762.2% in the third quarter. Point72 Hong Kong Ltd now owns 3,635 shares of the company’s stock worth $176,000 after purchasing an additional 3,508 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in shares of PROG during the third quarter worth $1,376,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on PRG shares. TD Cowen upgraded shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. Stephens started coverage on shares of PROG in a research report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 target price on the stock. Raymond James raised shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price target for the company in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, Loop Capital raised PROG from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PROG has a consensus rating of “Buy” and an average price target of $53.83.

Insider Activity

In other PROG news, CFO Brian Garner sold 5,000 shares of PROG stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $49.29, for a total value of $246,450.00. Following the sale, the chief financial officer now directly owns 107,720 shares in the company, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP George M. Sewell sold 3,500 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.88, for a total transaction of $171,080.00. Following the transaction, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,207 shares of company stock worth $5,759,152 over the last three months. Corporate insiders own 2.74% of the company’s stock.

PROG Stock Performance

PRG stock opened at $46.89 on Monday. PROG Holdings, Inc. has a 1-year low of $27.84 and a 1-year high of $50.28. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The firm has a market cap of $1.95 billion, a PE ratio of 12.99 and a beta of 2.15. The business’s 50-day moving average price is $47.03 and its two-hundred day moving average price is $42.60.

PROG (NYSE:PRG) last posted its earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million during the quarter, compared to analysts’ expectations of $601.86 million. PROG had a return on equity of 24.56% and a net margin of 6.55%. PROG’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.90 EPS. As a group, research analysts forecast that PROG Holdings, Inc. will post 3.36 earnings per share for the current year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Tuesday, November 19th. PROG’s dividend payout ratio is 13.30%.

About PROG

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.